ISLAMABAD, MAR 6 /DNA/ – In an emergency press conference today, the Pakistani government announced a massive increase in petroleum prices, hiking petrol and high-speed diesel by Rs 55 per litre each—the steepest single-day adjustment in recent history.

Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, and Minister for Energy Ali Pervaiz Malik jointly revealed the decision, effective immediately. Petrol now stands at Rs [previous +55], while diesel has risen to Rs [previous +55].

The government attributed the abnormal surge directly to the ongoing US-Israeli war against Iran, now in its second week, which has disrupted global oil supplies, spiked international crude prices, and strained Pakistan’s import-dependent economy. Officials warned that further volatility in the Middle East could necessitate additional adjustments.

The move has triggered immediate public outcry, with transport unions and traders warning of widespread inflation, higher transport fares, and hardship for daily-wage earners. The decision comes amid already fragile economic conditions and IMF-mandated reforms.