Pakistan’s interim government has once again raised the prices of petroleum products. The price of petrol has seen an increase of Rs26.02 per litre, while high-speed diesel (HSD) has been hiked by Rs17.34 per litre, according to a statement released by the Finance Division late Thursday.
This decision comes on the heels of an earlier increase this month, when the Economic Coordination Committee (ECC), led by Caretaker Finance Minister Shamshad Akhtar, approved a rise in the petrol and diesel margin by Rs1.87 per litre for oil marketing companies. Despite the backlash from last month’s significant surge, the Kakar-led government has decided to further increase prices, albeit marginally. Dealers will see a hike of Rs0.41 per litre for the second half of the current month.
Last month, the interim government had raised the price of petrol by Rs14.9 per litre, pushing the cost of petrol to a record Rs305.36 per litre. Now, as of September 1, the current rate of petrol stands at Rs331.38, while the high-speed diesel price is at Rs329.18.
Diesel & Petrol Prices in Pakistan
The government’s decision to impose a record petroleum levy on petrol and high-speed diesel has come as another blow to the inflation-weary populace. The rising fuel prices have a direct impact on the transport and agriculture sectors, and any further increases will only add to the burden on the masses, who are already grappling with inflated electricity bills and soaring prices of basic commodities.
The latest hike in fuel prices has triggered a wave of anger among the public, with many expressing their frustration through social media platforms. As the cost of living continues to rise, the people of Pakistan are left to bear the brunt of these economic decisions.