Ahead of Eidul Fitr, the Shehbaz Sharif-led government in Pakistan has announced a significant hike in petrol prices while simultaneously lowering the cost of diesel. The decision, effective for the next 15 days starting April 1, 2024, comes as part of the fortnightly revision of petroleum product prices, as recommended by the Oil & Gas Regulatory Authority (OGRA).
Petrol up, diesel down for 15 days
According to the notification issued by the finance ministry, petrol prices have surged by Rs.9.66 per litre, bringing the new price to Rs.289.41 per litre. Conversely, diesel prices have seen a reduction of Rs.3.32 per litre, resulting in a price of Rs.282.24 per litre.
The adjustment in fuel prices is a routine measure undertaken by the government to reflect changes in international oil prices and maintain financial stability. However, the timing of this particular increase just ahead of Eidul Fitr, a festive occasion celebrated by Muslims worldwide, may pose challenges for citizens facing increased travel and expenditure during the holiday season.
Also read: Petrol/Diesel Prices Expected To Skyrocket In The Upcoming Price Revision
While the government aims to balance the interests of consumers and the economic viability of the petroleum sector, the sudden price hike may stir public debate and prompt calls for measures to mitigate its impact, especially on vulnerable segments of the population.
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