In an unexpected decision, the federal government has raised petrol prices by Rs1.35 per litre, starting November 1. The new price for petrol will be Rs248.38 per litre. This increase is not what many people anticipated and comes after a similar rise in the price of high-speed diesel, which will now cost Rs255.14 per litre, an increase of Rs3.85.
On the other hand, prices for kerosene and light diesel oil have gone down. The increase in fuel prices is likely to put a strain on the budgets of middle and lower-middle-class families. As a result, consumers can expect to see higher transportation and food prices throughout the country. This is particularly concerning because diesel is essential for transporting heavy goods, so any increase in its price will affect the cost of many everyday items.
The government’s decision to raise fuel prices has raised concerns among consumers, as many were hoping for stable prices. Families already struggling with rising costs will likely feel the impact of this latest increase. As transportation costs rise, businesses may pass these costs on to consumers, further increasing prices on essential goods.
This situation puts pressure on the government to manage fuel prices carefully to avoid worsening the financial situation for many households. With inflation already a concern, the recent fuel price hike could create additional challenges for consumers across the nation.
