Pakistan braces for another petrol price shock as the interim government planned a major fuel hike of up to Rs15 per liter, which is set to take effect from September 16, and will push the existing inflationary pressures and raise the costs of living.
Amid the fear of a hike in prices of petroleum products following the increase in the crude oil price by $5 per barrel in the international oil markets, all eyes are on a caretaker government which is apparently pushing people to the wall.
In the first half of September, petrol prices completed a triple century as the interim caretaker government is taking steps toward fiscal objectives laid down by the International Monetary Fund (IMF), and with the expected price hike, the price of petrol will hover around Rs320/liter.
The international oil market has seen a price hike from $88 per barrel to $93 per barrel, this shift will give a jolt to Pakistan and other countries.
As Pakistan is facing an economic meltdown, distressed people are bracing for another blow, with experts claiming that back-to-back increases in fuel prices will shut down several industries.
| Petroleum product | Price(s) |
| Petrol | Rs305.36 |
| High-Speed Diesel (HSD) | Rs311.84 |
