October 11, 2024 – In a move that could put additional strain on consumers, sources indicate that petrol and diesel prices in Pakistan are likely to see an increase starting from October 16, 2024. The anticipated rise is due to a combination of factors, including fluctuations in global oil prices, changes in the exchange rate, and adjustments in taxes and duties.
Industry experts predict that the prices of petrol could increase by up to PKR 10 per liter, while diesel prices could rise by around PKR 7 per liter. The government has yet to officially confirm the new rates, but several oil marketing companies (OMCs) have already started preparing for the price hike.
This price adjustment comes at a time when inflation is already a major concern for Pakistanis, with the cost of everyday goods continuing to climb. Rising fuel prices are expected to have a cascading effect, leading to higher transportation costs, which could further contribute to price hikes in other sectors, including food and consumer goods.
Consumers have expressed concerns about the financial impact of this increase, especially as the country faces ongoing economic challenges. The government, however, has yet to make an official statement regarding the precise nature of the price changes or the measures, if any, it will take to cushion the impact on the public.
As always, the situation remains fluid, and any further developments will be closely monitored in the coming days.
