Thursday, February 20th, 2025

Amid increasing inflation concerns, Pakistan prepared to increase the prices of petrol and diesel




Inflation concerns continue as a Pakistani government under the leadership of Prime Minister Shahbaz Sharif, it is expected to increase the prices of petrol and diesel starting from February 1, 2025.

The increase in global crude oil prices has raised concerns about the increase in further prices for petroleum products in the country. Sources quoted by SAMAA TV suggests that petrol prices may rise by Rs 3 per liter, while high-speed diesel (HSD) may see a large increase of Rs 6 per liter in the upcoming fortnightly review. The Oil and Gas Regulatory Authority (OGRRA) is expected to present a summary to the Ministry concerned, which recommends price adjustments based on the ups and rackets in global oil price trends and exchange rates. A final decision will be taken on the price hike after consultation between Finance Minister Muhammad Aurangzeb and Prime Minister Shahbaz Sharif. The official announcement is expected on 31 January 2025.

In the previous review, the government had increased petrol prices by Rs 3.47 per liter, causing the new rate to Rs 256.13 per liter. The price of HSD increased by Rs 2.61 per liter, causing it to Rs 260.95 per liter.

Inflation in Pakistan has become a major challenge for the average citizen, with rising prices of essential commodities including petrol, diesel and other basic requirements. For example, as the prices of petrol and diesel rise, the cost of transport also increases, increasing high prices for goods and services across the country. This not only affects fuel -dependent industries, but also affects everyday objects such as food, therapy and utilities.

With inflation at dangerous levels, many civilians are struggling to live with the rising cost of life. The impact is especially felt by low-oriented groups, which also find it difficult to bear the most basic imperatives. Structural issues such as poor governance, disabled taxation systems and dependence on foreign loans have complicated the problem. The government has deepened the financial crisis experienced by the population, combined with external factors such as the government’s disability, global goods value fluctuations in implementing long-term solutions.



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