Islamabad: After the government’s latest hike in petroleum product prices, there are fears of a further increase in inflation in the country. According to a notification from the Petroleum Division, the price of petrol has been increased by Rs 14.92, while the price of high-speed diesel has been increased by Rs 15 per litre. After the increase, the new price of petrol has become Rs 414.78, and the price of diesel has become Rs 414.58 per litre.
According to economic experts, the recent increase will not be limited to fuel alone but will also have an impact on the prices of transport, industrial production, agricultural costs and daily necessities. Citizens are already under severe pressure due to high inflation in the country, while the new prices are also expected to increase the cost of business activities.
According to reports, the increase in crude oil prices in the global market, tensions in the Middle East and an increase in import costs are being cited as the main reasons for the government’s recent decision. Experts have warned that if oil prices do not stabilise in the global market, further changes may occur in the coming weeks.
