Pakistan on Thursday once again hiked consumer prices for diesel and petrol sharply.
The price of diesel would be raised by 54.9% to 520.35 rupees ($1.88) per litre, and petrol by 42.7% to 458.40 rupees per litre, the Pakistani government said.
This is the second increase in petrol and diesel prices in Pakistan within a month.,The decision is likely to ripple through to higher inflation and hit Pakistan's impoverished population.
Pakistan imports oil mainly from Saudi Arabia and the UAE through the Strait of Hormuz.,"It was inevitable to raise the prices due to the international market prices going out of control after the US-Iran war," Pakistan's petroleum minister, Ali Pervaiz Malik, said in a news conference telecast on state television, along with the country's finance minister, as quoted by Reuters.
,Pakistan's finance minister Muhammad Aurangzeb separately in the news conference announced subsidies aimed at offering relief to small farmers, motorcyclists and intercity transportation of goods and passengers.,Malik said the government....
