Islamabad [Pakistan], December 1: The Pakistani government announced a hike in fuel prices on Saturday, intensifying the financial burden on the public as inflation continues to surge, according to ARY News.
The price of petrol has increased by PKR 3.72 per litre, bringing it to PKR 252.10 per litre, while the price of high-speed diesel has risen by PKR 3.29 per litre, now costing PKR 258.43 per litre, as per an official notification.
This increase follows a high premium on petroleum products in the global market and rising import costs, as cited by ARY News.
On October 31, the government had previously raised fuel prices, with petrol increasing by PKR 1.35 to PKR 248.38 per litre, and high-speed diesel going up by PKR 3.85 to PKR 255.14 per litre.
Adding to the strain, the Oil and Gas Regulatory Authority (OGRA) on November 30, 2024, increased the price of liquefied petroleum gas (LPG). The new LPG price has been set at PKR 254.30 per kilogram for December. Consequently, the cost of a domestic LPG cylinder has risen to PKR 3,079.79, up from PKR 2,999.47 in November.
The LPG price hike has been attributed to the appreciation of the US dollar, which has impacted import costs, according to ARY News. OGRA’s notification confirmed that the new rates would take effect from December 1, 2024.
These increases come as Pakistani consumers continue to grapple with escalating fuel and energy costs, exacerbating the challenges of rising inflation and economic instability.