Petrol up to Rs458.40, diesel hits Rs520.35 after massive hike

Pakistan: The federal government has announced a major increase in petroleum prices, setting petrol at Rs458.40 per litre after a hike of Rs137.23, while diesel has been raised by Rs184.49 to reach Rs520.35 per litre. Officials stated that the increase reflects rising international oil prices and economic pressures. The sharp rise is expected to increase transportation costs, impact industrial activity and contribute to higher inflation. Experts believe that fuel price hikes will have a ripple effect across multiple sectors, leading to increased prices of goods and services and affecting overall economic stability.