Pakistan’s government has once again increased fuel prices, adding to the burden on people already struggling with severe inflation. The Shehbaz Sharif government has raised the prices of both petrol and diesel, with the revised rates coming into effect from September 15. Petrol has become costlier by PKR 4.42 per litre, increasing from PKR 375.82 to PKR 380.24. Meanwhile, the price of high-speed diesel has been increased by PKR 6.10 per litre, taking it from PKR 403.32 to PKR 409.42.
The new prices were announced by the Ministry of Energy after a review by the Oil and Gas Regulatory Authority (OGRA). Reports indicate that this is the sixth consecutive fuel price hike in Pakistan this month. The government revises fuel prices based on international crude oil prices and other associated costs. Pakistan has also changed its fuel price revision mechanism. While prices were earlier revised every 15 days, the system later shifted to weekly revisions and has now moved towards daily price adjustments.
With international crude oil prices rising, Pakistan’s dependence on imported oil is putting additional pressure on the economy. The latest fuel price hike is expected to increase transportation costs, which could further push up the prices of essential commodities. This has raised concerns among the public, who are already facing the impact of high inflation and rising living expenses.
