Islamabad: The government has announced a hike in petrol and diesel prices, citing rising global oil rates and economic challenges. The new prices, effective immediately, are expected to impact transportation costs and inflation across various sectors.
According to the latest notification, petrol and diesel prices have been increased by a significant margin, sparking concerns among consumers and businesses. Officials stated that the adjustment was necessary due to fluctuations in international oil markets and the devaluation of the local currency.
The price hike has drawn criticism from opposition leaders and the public, who fear it will further burden households already struggling with rising living costs. Meanwhile, government representatives maintain that the move is essential for stabilizing the economy and meeting financial obligations.
Economists predict that the increase in fuel prices will lead to a surge in transportation and commodity costs, affecting daily expenses for millions. As the nation braces for the economic impact, all eyes are on policymakers for potential relief measures in the coming weeks.
