In a year marked by relentless economic hardships, the prices of petroleum products in the nation have surged to staggering, record-breaking figures, with costs now escalating at double-digit rates, in stark contrast to previous single-digit increases.
Over the past year, the price of petroleum products has witnessed an astonishing increase of Rs95 per litre. Shockingly, the caretaker government, which has been in power for just one month, has played a significant role in exacerbating this surge by imposing an additional Rs41 per litre hike.
This sudden spike has sent shockwaves through a nation already grappling with unabated inflation. Both petrol and diesel have reached unprecedented highs, with petrol now standing at Rs331 per litre and diesel at Rs329 per litre.
Comparing the current prices to the time when Sharif assumed office on April 11, 2022, petrol per litre has seen a staggering increase from Rs144.15 to its current rate of Rs331. The PDM regime also witnessed a substantial rise, taking petrol prices from Rs144.15 to an alarming Rs272.95.
Similarly, diesel prices surged from Rs118 to Rs273 during Shehbaz’s tenure as prime minister. Notably, under his administration, diesel prices skyrocketed by an astounding Rs154 per litre, while petrol experienced a significant increase of Rs127 per litre.
The trend of escalating fuel prices continued under the caretaker government’s one-month tenure. During this brief period, petrol rates increased by a shocking Rs58 per litre, while diesel saw a significant rise of Rs56 per litre.
Within a single day of the caretaker government taking office on August 16, petrol prices surged by Rs17.5, followed by diesel with an increase of Rs20. This sudden spike pushed petrol costs from Rs272.95 to Rs291.45 and high-speed diesel from Rs273.40 to Rs293.40.
On September 1, just fifteen days into the caretaker government’s term, petrol prices experienced another increase of Rs14.91 per litre, and diesel prices rose by Rs18.44. Consequently, petrol reached Rs305.36, and diesel peaked at Rs311.84.
Subsequently, petroleum product prices saw a second round of hikes within a single month. Petrol witnessed an unprecedented increase of Rs26.20, and diesel prices climbed by Rs17.34.
With this latest surge, petrol prices have reached a historic high of Rs331.38 per litre, while diesel has reached an unsettling level of Rs329.18 per litre. The nation remains in shock as the economic challenges continue to mount, leaving citizens to grapple with the burden of soaring fuel costs.
