Another wave of price hikes has hit Pakistanis hard as the government, led by Prime Minister Shehbaz Sharif, announced a massive increase in prices for petrol and diesel. According to the latest notification, the price of petrol has increased by Rs 9.99, reaching a new high of Rs 275.60 per litre. Similarly, high-speed diesel has seen a sharp rise of Rs 6.18 per litre, now priced at Rs 283.63. These new rates will take effect from midnight and will remain in place until July 31.
Read More: Milk prices in Islamabad have risen by Rs20 per liter
The Ministry of Finance has confirmed that there has been no change in the petroleum products’ tax or levy, maintaining the existing tax structure. With inflation already a pressing concern, these price hikes are likely to further erode the purchasing power of citizens and put additional pressure on households struggling to make ends meet.
