ISLAMABAD: Federal Minister for Power and Petroleum Omar Ayub Khan on Saturday defended the recent hike in fuel prices, saying that the government revised prices of petroleum products keeping in view rising oil prices trend in the global market.
Speaking in the National Assembly, the minister said that petrol prices are still lower in Pakistan as compared to the global market.
The surge in the prices of petroleum products has been made because of the sharp increase in oil prices at the international market during the last month, he added.
Omar Ayub said petrol prices are higher in Bangladesh, India and other countries of the region. He said the increase made in fuel Pakistan in Pakistan is still less than when compared with other regional countries.
In a Tweet on Friday, Omar Ayub said the international prices of oil have risen sharply in the last month causing the weakness of rupee by Rs2 to Rs3.
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It must be noted that the Federal government had yesterday increased petrol price by Rs25.58 after decreasing it a short while back resulting in a countrywide scarcity.
According to a notification issued by the government on the matter, new price for a litre of petrol is now Rs100.10.
High-Speed Diesel’s new price is now Rs101.46 per litre with an increase of Rs21.31.
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Light diesel’s new price is Rs55.98 per litre registering an increase of Rs17.84 whereas kerosene oil’s new price would now be Rs59.06 per litre with an increase of Rs23.50.
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