ANI
07 Mar 2026, 02:59 GMT+10
Islamabad [Pakistan], March 7 (ANI): The Government of Pakistan has announced a sharp hike in the prices of petrol and diesel by PKR 55 per litre, in the wake of the escalating security situation in West Asia, as per a report by ARY News.
According to ARY News, the federal ministers made the announcement during a press conference in Islamabad. Under the new prices, petrol will now cost a whopping PKR 321.17 per litre, while diesel prices will jump from the existing PKR 275.70 to PKR 335.86 per litre.
As per ARY News, Deputy Prime Minister and Foreign Minister, Ishaq Dar, has said that the decision had been taken after oil prices surged in the international market in the wake of the widening of the conflict in West Asia. He told the media that the situation intensified after the further widening of the conflict in the last 48 hours.
Present at the media briefing was Pakistan's Petroleum Minister Ali Pervaiz Malik, who described the hike in the prices as a difficult decision.
Meanwhile, ARY News further mentioned, citing sources, that the International Monetary Fund (IMF) has urged Pakistan to immediately increase petrol and diesel prices. As per the sources, the demand was made during virtual talks between Pakistani authorities and an IMF delegation, it further reported.
The developments in Pakistan come amid global energy supply concerns following escalating tensions in West Asia after a joint US-Israel military strike on February 28 on Iranian territory killed its Supreme Leader, Khamenei and other senior figures, prompting a fierce response from Tehran.
In retaliation, Iran launched waves of drone and missile attacks across multiple Arab countries, targeting American military bases and Israeli assets throughout the region, with Israel also continuing its strikes on Tehran and widening the conflict to Lebanon, targeting Hezbollah. (ANI)
Get a daily dose of Myanmar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.
More InformationHONG KONG: Airfares between Asia and Europe have surged after the closure of major Middle Eastern hubs disrupted key global routes,...
COLOMBO, Sri Lanka - The U.S. Navy has sunk an Iranian ship in the Indian Ocean, extending its unilateral war on Iran into Southeast...
SEOUL, South Korea: South Korea has approved the export of high-precision map data to overseas servers, clearing the way for Google...
Islamabad [Pakistan], March 7 (ANI): The Government of Pakistan has announced a sharp hike in the prices of petrol and diesel by PKR...
Dhaka [Bangladesh], March 7 (ANI): On Friday, after Dhaka saw a fuel crisis at several gas stations with rush and chaos regarding fuel,...
New Delhi [India], March 6 (ANI): Iran's Foreign Minister Seyed Abbas Araghchi on Friday held a telephone conversation with External...
NEW YORK CITY, New York: Two men who set fire to a 37-year-old man as he slept near Manhattan's Penn Station are now being hunted by...
WINDER, Georgia: A Georgia man who gave his teenage son the gun allegedly used to kill two students and two teachers at a high school...
WASHINGTON, D.C.: This year, the White House Correspondents' Association's annual dinner in April will feature a new guest and speaker...
LOS ANGELES, California: A United Airlines flight, with an engine on fire, returned to the Los Angeles airport on March 2, nearly 40...
WASHINGTON, D.C. The Supreme Court has allowed California schools to tell parents if their children identify as transgender without...
SEATTLE, Washington: Amazon's cloud computing division said this week that drone strikes in the Middle East conflict damaged some of...
