Pakistani consumers are bracing for another blow to their household budgets as fuel prices are expected to rise significantly in the upcoming fortnight, with most petroleum products facing steep increases.
According to initial estimates, diesel prices may jump by Rs 9.50 per litre, marking one of the sharpest increases in recent months. This substantial hike will directly impact transportation costs across the country, as diesel is the primary fuel for heavy vehicles, trucks, and public transport.
In a rare piece of good news, petrol prices are projected to decrease slightly by Rs 2 per litre, offering minimal relief to private vehicle owners. However, this small reduction will likely be overshadowed by increases in other petroleum products.
Kerosene oil, commonly used in rural households for lighting and cooking, is expected to rise by Rs 8.80 per litre. Light diesel oil prices are also projected to increase by Rs 7.15 per litre, affecting agricultural machinery and small industrial operations.
These price adjustments are driven by fluctuations in international oil markets and currency exchange rates. The new rates will take effect from November 15 and remain in place for the following two weeks, as per the government’s fortnightly pricing mechanism.
Economists warn that the diesel price hike will have a cascading effect on the economy. Transport costs will rise, leading to increased prices for essential goods and commodities. This is expected to further fuel inflation, adding pressure to already struggling middle and lower-income families.
