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Aftab Maken
ISLAMABAD: The federal government has once again increased the prices of petroleum products, effective for the next fifteen days. The announcement, which came late Sunday night, has pushed the cost of petrol and diesel to new highs, sparking concerns over a fresh wave of price hikes in everyday commodities.
According to a notification issued by the Ministry of Finance, the price of petrol has been increased by Rs. 4.80 per litre, while the price of high-speed diesel has seen a steeper climb of Rs. 7.95 per litre. With this latest revision, the new price of petrol now stands at Rs. 258.43 per litre, and diesel will be sold at Rs. 262.59 per litre.
For many Pakistanis, the news, though not entirely unexpected, was a grim reminder of the country’s ongoing economic challenges. The fortnightly price review has become a source of anxiety for households and businesses alike, who are struggling to keep pace with the rising cost of living.
The government has attributed the price hike to the volatile fluctuations in the international oil market and the persistent pressure on the Pakistani rupee. In its official communication, the Ministry of Finance stated that it was compelled to pass on the impact of the global surge in petroleum prices to the consumers.
However, this justification offers little solace to the common citizen. For people like Ali Khan, a ride-hailing service driver in Rawalpindi, the increase in petrol prices directly translates to a smaller take-home income. “My earnings are already stretched thin with the rising maintenance costs of my car,” he lamented. “This new price will eat into what little I make to support my family. It feels like we are constantly taking one step forward and two steps back.”
The hike in diesel prices is poised to have a far-reaching impact, particularly on the transport and agriculture sectors. Diesel is the primary fuel for heavy-duty vehicles that transport goods across the country, as well as for tractors and other farm machinery. Experts predict that the increased transportation costs will inevitably lead to higher prices for fruits, vegetables, and other essential commodities, further burdening households.
Small business owners are also bracing for the aftershocks of this decision. “From sourcing raw materials to the final delivery of our products, our operational costs are heavily dependent on fuel prices,” said a local bakery owner. “We will have to reassess our pricing, but we are also worried about losing customers if our products become too expensive.”
As the new prices come into effect, a sense of unease prevails across the country. While the government maintains that these adjustments are a necessary evil to manage the country’s finances, for millions of Pakistanis, it is yet another test of their economic resilience in an environment of persistent inflation. The coming days will reveal the full extent of the ripple effect of this fuel price hike on the daily lives of the people.
