Ministers warn that future price rises could be likely and that current fuel supplies should be used responsibly.
The federal government on Saturday urged the population to adopt new austerity measures in daily life and to cooperate with authorities to save energy, in light of the fuel crisis caused by the conflict in the Middle East.
Two weeks ago, the government sharply increased diesel and petrol prices by Rs 55 per liter, or 20 per cent, due to the ongoing war between the United States, Israel and Iran, which has disrupted supply chains and pushed crude oil prices to their highest level in two years.
The increase in gasoline prices was greater than that of the international market, as the government chose to collect more money than necessary from motorcyclists and car owners to subsidize the use of diesel, mainly in public transport and the agricultural sector. However, the Prime Minister announced last night that the Federal Government had twice absorbed the burden of rising fuel prices instead of passing it on to the public.
The federal and provincial governments have since introduced a series of austerity measures, including extra weekly leave, scrapping free fuel allowances for ministers, limiting ceremonial vehicles and offering subsidized fuel for students.
Addressing a press conference today, Information Minister Attaullah Tarar and Oil Minister Ali Pervaiz Malik appealed to the public to take the lead and implement more austerity measures to cooperate with the government in fuel conservation.
They warned that future price hikes could be likely and said the country’s current fuel reserves should be consumed responsibly.
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More to follow.
