The Pakistani government has announced a 35 Pakistani rupee (PKR) per litre rise in the cost of gasoline and fuel. Ishaq Dar, the finance minister of Pakistan, announced the hike in fuel prices, which took effect on January 29 at 11 a.m., according to Dawn.

The declaration was made on Sunday during a televised address by Ishaq Dar. According to him, the cost of light diesel and kerosene oil has increased by PKR 18 per litre. In a tweet, the Pakistani Finance Ministry stated that the.

Why prices actually increased?


Ishaq Dar claimed that the Pakistani rupee has lost value the previous week and that the cost of petroleum items had increased by 11% on the world market. He claimed that since October, there has not been an increase in gasoline prices.



Ishaq Dar was quoted by Dawn as saying, "The Pakistani currency witnessed devaluation last week and now we are seeing an 11% spike in the prices of petroleum items in the international market."
On the orders of Prime Minister Shehbaz Sharif, we have decided to raise the minimum price of these four products despite rising international prices and the depreciation of the currency, he continued.

According to the news report, Ishaq Dar expressed the hope that the revelation of higher prices will put an end to rumours regarding a lack of gasoline supplies. On social media, he claimed, there were rumours that the price of gasoline and diesel will rise by Rs 50. Ishaq Dar reportedly stated, "As a result, we have heard stories of false shortages in the market.

Rumors of a significant hike in gasoline prices caused huge lines at gas stations in various parts of Pakistan before to Dar's statement. According to reports shared on social media, the price of gasoline and diesel was anticipated to rise on February 1 by between Rs. 45 and Rs. 80.

Hassan, who was waiting in line at a gas station, was cited by Dawn as saying, "We saw a post on social media that oil prices will go up due to the spike in the dollar's value and worldwide petroleum rates.
In Gujranwala, only 20% of the gas stations had fuel available. According to a report from Geo News published by Dawn, fuel shortages have been observed in Pakistan's Rahim Yar Khan, Bahawalpur, Sialkot, and Faisalabad regions.