Web Desk | Islamabad, Pakistan The federal government of Pakistan will announce new petroleum product prices on Friday, officials said.
Finance Minister Muhammad Aurangzeb noted that global oil prices are on the rise. He added that the International Monetary Fund (IMF) has highlighted potential impacts of the Middle East conflict on Pakistan’s economy, including pressure on external payments and possible effects on remittances if the conflict continues.
Petroleum Minister Ali Pervaiz Malik said prices will be determined based on the average rates of petroleum products. He cautioned that it is too early to predict whether petrol prices will increase.
Last week, the government raised petrol and diesel prices by PKR 55 per liter in response to regional tensions and surging global oil prices.
