Pakistan’s fuel prices have surged due to the Pakistani Rupee’s devaluation and stipulations within the International Monetary Fund (IMF) accord, Minister of State for Petroleum, Ali Pervaiz Malik, announced.

Speaking on a private news channel Thursday, Malik explained that despite steady international oil costs, the rupee’s two-rupee decline against the US dollar necessitated a slight petrol price adjustment. He acknowledged public hardship, asserting that substantial economic challenges demand robust solutions. Raising petrol costs was unavoidable to maintain compliance with IMF conditions, he argued.

The government raised petroleum product costs by as much as Rs 11 per liter. The Finance Ministry’s notification outlined a Rs 5.36 increase per liter for petrol and Rs 11.37 for high-speed diesel. Petrol now stands at Rs 272.15 per liter, while high-speed diesel costs Rs 284.35.

Consequently, Pakistan Railways, public transportation, and cargo carriers have increased their tariffs. Railway authorities hiked prices across all train categories, while freight costs for coal rose by 3% and fertilizer by 2%, effective July 18 for passenger trains and July 21 for freight.

Public transport operators raised fares by up to Rs 250, and goods transporters implemented a 20% increase. The Lahore to Rawalpindi fare rose from Rs 2,180 to Rs 2,270; Lahore to Peshawar from Rs 2,600 to Rs 2,850; and Lahore to Faisalabad from Rs 1,110 to Rs 1,150.