ISLAMABAD – Pakistanis are already reeling from staggering Rs55-per-litre hike in Petrol, and now rumors of another massive increase are coming. The fuel crisis is intensifying globally as the ongoing war in the Middle East pushes oil prices higher, raising fresh economic concerns for the South Asian nation, where around 60 % of petrol consumed is imported.
As the viral claims are doing rounds online. Oil and Gas Regulatory Authority (OGRA) firmly dismissed the reports, calling them misleading and completely baseless.
OGRA spokesperson clarified that no summary recommending a petrol price increase of Rs73.40 per litre or a diesel hike of Rs84.95 per litre has been sent to the PM Office. The spokesperson stressed that the figures circulating online have no connection with any official pricing process.
Authorities warned the public not to fall for unverified social media claims, noting that such rumors are fabricated and designed to create confusion.
The denial comes at tense time as the ongoing conflict in the Middle East continues to shake global energy markets. The confrontation involving Iran, Israel and US disrupted key supply routes and pushed international oil prices sharply higher, raising fears of further fuel price shocks in Pakistan.
Just last week, the government raised petrol and diesel prices by around Rs57, adding to financial strain on households and businesses. On Friday, authorities again increased both petrol and diesel prices by Rs55 per litre each, following a sharp rise in global oil prices.
After the latest adjustment, Petrol prices surged by 21 percent to Rs321.17 per litre, while diesel jumped 20 percent to Rs335.86 per litre.
Increase in Fuel will push inflation even higher. Pakistan’s inflation rate already rose to 7 percent last month, marking the highest level in 16 months. Analysts believe it could increase by another 0.7 to 1 percent in the coming months.
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