Petroleum Minister Ali Pervaiz Malik has explained why fuel prices are rising across Pakistan.
Ali Pervaiz Malik linked the rise to global oil prices hike over the past two weeks.
The minister said that determining petroleum prices is not a straightforward process under the current circumstances, given the volatility in international oil markets.
He noted that petroleum dealers are also demanding an increase in their profit margin from the existing 8%, adding that the current petroleum levy remains lower than it was before the regional conflict.
“On one hand, global oil prices are witnessing significant volatility, and on the other, if petrol pumps also become a point of pressure, the situation will become even more difficult,” he said, adding that markets may be anticipating potential disruptions in fuel availability.
