Adviser to the prime minister, Rana Sanaullah said on Saturday the government raised the petrol price by Rs55 instead of Rs110 in line with international rates.
He said global petrol prices rose sharply after attacks on Iran, increasing from $78 to $106 per barrel in the international market. Sanaullah said the situation was not limited to Pakistan but affected countries across the world.
He said the government decided to pass on only part of the increase to consumers, adding that strict action would also take place against hoarders.
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