The government has significantly increased the prices of diesel and petrol.
According to the announcement, petrol has been raised by PKR 26.77 per liter, while diesel has also seen an increase of PKR 26.77 per liter.
The Petroleum Division has issued an official notification regarding the revised prices.
As per the notification, the new price of petrol has been set at PKR 393.35 per liter, while diesel will now cost PKR 380.19 per liter.
The notification further states that the new prices will come into effect from 12:00 midnight tonight.
Global oil prices have risen sharply amid escalating tensions between the United States and Iran in the strategic Strait of Hormuz, following a series of reciprocal seizures of commercial vessels by both sides.
International benchmark Brent crude oil climbed above $106 per barrel in early trading on Friday, reaching $106.80 at 01:00 GMT.
This marks an increase of nearly 5% compared with Wednesday’s close, when prices had already crossed the $100 threshold for the first time in two weeks.
