Pakistan Hikes Fuel Prices by Record 55 Rupees; Long Queues Erupt at Pumps

• Pakistan announced the largest ever increase in petrol and high-speed diesel prices, raising them by 55 Pakistani rupees per liter.
• The ex-depot price of high-speed diesel surged to 335.86 rupees/liter (20% increase), and petrol to 321.17 rupees/liter (17% increase).
• The late Friday night announcement triggered long queues at petrol pumps across cities as people rushed to fill up on cheaper fuel.
• The government cited the West Asia conflict, affecting global energy supply and the Strait of Hormuz route, as the reason for the hike.
• Petroleum Minister Ali Pervaiz Malik confirmed sufficient reserves, warned against hoarding, and stated prices will now be reviewed weekly.