Amidst the challenges of soaring electricity bills faced by the nation, the caretaker administration took a significant step on Thursday by increasing the prices of petrol and diesel by more than Rs14.
The interim government of Pakistan elevated the price of petrol by Rs14.91 per liter, reaching an unprecedented level in the history of the country.
The updated cost of petrol will now stand at a per-liter price of Rs305.36 following the increase.
In a similar manner, the cost of high-speed diesel has been lifted by Rs18.44, resulting in a new price of Rs311.84.
It’s worth noting that the rates for light-speed diesel and kerosene oil will remain unchanged. These adjusted prices are set to come into effect from September 15.
Interestingly, several fuel stations across the country were shut down a few hours prior to the expected price hike.
The surge in fuel prices has exacerbated the difficulties faced by individuals already grappling with uncontrollable inflation.
This development will likely lead to higher transportation expenses, an uptick in inflation, decreased economic activity, and an impact on the welfare of the disadvantaged population.