The government on Friday increased the cost of petrol by Rs 26.02 per litre and the cost of high-speed diesel (HSD) by Rs 17.34 per litre in yet another major price increase since the interim administration assumed control.
According to a statement from the finance ministry, “the government has decided to revise the existing consumer prices due to the increasing trend of petroleum prices in the international market.”
Following the rise, the cost of petrol has risen to an all-time high of Rs331.38 per litre, while the cost of HSD has decreased to Rs329.18 per litre. The updated rates went into effect on September 16 at midnight.
Petrol prices recently exceeded the historic Rs300 per litre level for the first time in the history of the country after the caretaker government approved price hikes for both gasoline and diesel.
Citizens who are already struggling with continuous economic issues including increasing inflation, the rupee depreciation against the dollar, inflated power bills, and rising prices of necessities will be further burdened by this additional hike.
Kerosene and light diesel oil (LDO) prices were not disclosed.
Diesel is heavily utilized in the transportation and agricultural sectors, therefore any price increase has a significant inflationary effect.
In rural areas, particularly in the country’s north, where LPG is not readily available for cooking, kerosene is used for cooking. In these places, the Pakistan Army is also its main user.
