Islamabad, March 16, 2023 – Prior to Ramadan, the Pakistani federal government has increased the prices of petroleum products, with petrol and high-speed diesel prices seeing a surge of Rs 5 and Rs 13 per litre, respectively. The Ministry of Finance attributed the increase to the depreciation of the rupee. Kerosene prices have also gone up by Rs 2.56 per litre, while the price of light diesel oil remains unchanged. The new prices went into effect on March 16.
This move comes after a reduction in petrol, kerosene, and light diesel oil prices were announced on February 28. However, the common people of Pakistan are already struggling to make ends meet due to the record-high inflation over the past few months. Purchasing essential commodities and paying utility bills has become increasingly difficult for the average citizen, and the month of Ramadan only adds to their financial burdens.
The preparations for Eid, including the purchase of new clothes and gifts for loved ones, demand even more money. The hike in petroleum prices is expected to have a ripple effect on the overall cost of living, making it even more challenging for the common people to make ends meet.
The increase in petroleum product prices has come as a major blow to the people of Pakistan, who are already suffering due to the challenging economic situation. The government’s decision to raise prices ahead of Ramadan has been met with criticism from various quarters, as it will make it even harder for people to observe the holy month with the necessary spiritual focus and devotion.
It remains to be seen how this move will impact the overall economic situation in the country, but for now, the people of Pakistan are bracing themselves for further financial challenges in the days and weeks ahead.