ISLAMABAD: Pakistan’s already inflation-stricken population may face another petrol price hike, with reports indicating an increase of Rs. 2.58 per liter for petrol and Rs. 5.91 per liter for high-speed diesel, according to ARY News.
Sources say that if approved, the new rates will push petrol prices to Rs. 250.96 per liter, while high-speed diesel will cost Rs. 261.05 per liter. This anticipated hike is largely attributed to the rise in global petroleum premiums and higher import costs.
The government is considering the price increase, which could take effect from November 16, following a surge in the cost of imported petroleum products. This follows a similar hike announced on October 31, when the federal government raised petrol prices by Rs. 1.35 to Rs. 248.38 per liter and increased high-speed diesel prices by Rs. 3.85, setting the new price at Rs. 255.14 per liter. However, light diesel and kerosene oil prices saw a reduction, with kerosene dropping by Rs. 4.92 to Rs. 148.5 per liter and light diesel decreasing by Rs. 2.61 to Rs. 147.51 per liter.
The price increases come amid rising inflation, with the Sensitive Price Indicator (SPI) reporting a 0.28 percent week-on-week increase for the period ending October 17. The SPI, which tracks prices of 51 essential goods across 17 urban centers, showed a 15.02 percent year-on-year rise. For lower-income households, the SPI for the lowest consumption group saw a similar upward trend, increasing by 0.27 percent.
ARY News, Geo News, Dunya News, Samaa TV, The Express Tribune
