The government drastically boosted fuel prices on Thursday, bringing petrol to Rs458.41 per litre and high-speed diesel (HSD) to Rs520.35 per litre.
The statement was made at a news conference by Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb.
The recent rise is a huge increase from the previously declared rates earlier in March, when petrol was priced at Rs321.17 per litre and HSD at Rs335.86 per litre, representing an increase of more than Rs137.24 per litre in petrol and Rs184.49 per litre in HSD.
Aurangzeb also announced a targeted relief plan, stating that motorbike riders will receive discounted gas at Rs100 less per gallon for up to 20 litres.
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