Karachi: Rising inflation across the country has made life more difficult for the people, and now the significant increase in cooking oil prices is also weighing heavily on the household budget. According to the latest market reports, the price of cooking oil per litre has increased by about Rs 60 in the last week, after which the price in the retail market has reached Rs 550 per litre.
Market sources say that till a few days ago, the same cooking oil was available for Rs 490 per litre; however, due to a shortage in supply and an increase in wholesale prices, there has been a significant increase in retail prices. According to shopkeepers, the companies have implemented the new prices due to an increase in import costs, fluctuations in the value of the dollar, and an increase in transport costs.
Citizens say that the prices of flour, sugar, pulses, vegetables, and other food items are already skyrocketing; in such a situation, the inflation of cooking oil has doubled the cost of cooking. According to housewives, even cooking daily is now becoming difficult, and meeting expenses with limited income has become a big challenge.
According to economists, Pakistan imports most of its edible oil from abroad, so the increase in prices in the global market directly affects local consumers. The depreciation of the rupee is also being considered a major reason for the increase in prices. If this situation continues, further inflation is being feared in the coming days.
On the other hand, the people have demanded that the government take strict action against hoarding and profiteering and take effective steps to control the prices of basic necessities so that the common man gets relief. Citizens say that the continuously increasing storm of inflation is making life unbearable.
