Islamabad, September 27, 2023 – The government of Pakistan has announced the latest prices of petroleum products, which will remain in effect until the end of the month.
The new prices are as follows:
Petrol: Rs 331.38 per liter
High-speed diesel (HSD): Rs 329.18 per liter
These prices represent an increase of Rs 10.93 per liter for petrol and Rs 17.34 per liter for HSD, compared to the previous prices. The new prices are also the highest ever recorded in Pakistan.
The government has justified the price increase by citing the rising cost of oil in the international market. However, the decision has been met with widespread criticism from the public and businesses alike. Many people believe that the government is not doing enough to help them cope with the rising cost of living.
The increase in petroleum prices is likely to have a significant impact on the Pakistani economy. It will lead to higher transportation costs, which will in turn push up the prices of goods and services. This will further aggravate inflation, which is already at a high level.
The government needs to take steps to mitigate the impact of the rising petroleum prices on the public. It could do this by providing subsidies or reducing taxes on petroleum products. It could also invest in public transportation and promote renewable energy sources.
Only time will tell how the Pakistani economy will respond to these unprecedented petroleum prices. However, it is clear that the government needs to take action to protect the public from the rising cost of living.