Govt raises petrol price by Rs4.93, diesel by Rs7.15 per litre

Islamabad (Web Desk): The federal government has announced an increase in the prices of petroleum products, raising the rates of both petrol and high-speed diesel.

According to an official notification, the price of petrol has been increased by Rs4.93 per litre, taking the new rate to Rs320.73 per litre.

The government also raised the price of high-speed diesel by Rs7.15 per litre, with the revised rates coming into effect immediately.

Meanwhile, the All Pakistan Petrol Pumps Owners Association (APPPOA) has announced an indefinite nationwide shutdown of petrol pumps starting from 12:00am on Thursday, following the failure of negotiations with the Ministry of Petroleum.

In a video statement, APPPOA General Secretary Nauman Ali Butt said the association has rejected the government's proposed daily fuel pricing mechanism, under which petroleum prices would be revised every day.

"We cannot accept daily changes in petroleum product prices under any circumstances," Butt said, adding that talks with the Petroleum Ministry ended without any breakthrough.

He announced that petrol pumps across Pakistan would remain closed for an indefinite period from midnight in protest against the government's proposed pricing policy.