The federal government has once again increased fuel prices, dealing another blow to already struggling households and the transport sector.
According to a notification issued on Sunday, the petrol price in Pakistan has been raised by Rs4.80 per litre, pushing it up from Rs254.64 to Rs262.59, effective from June 16.
The price of high-speed diesel hasn’t been spared either. It has gone up by Rs7.95 per litre, now standing at Rs258.43 compared to the earlier Rs253.63. This marks the second consecutive hike, following a Re1 increase in petrol during the last fortnight, despite relatively stable global oil markets.
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This fuel price increase in Pakistan will most likely affect middle- and low-income households the most. Petrol is also most widely used in motorcycles, rickshaws, and small vehicles, which are the major means of transportation for most of the population. With each litre of petrol costing more, transportation costs each month will increase by taking a further toll on household expenses.
In the meantime, the effect of the diesel price hike is sure to have a ripple effect throughout the economy.
