Pakistan’s latest petroleum prices as of September 28, 2023

The Government of Pakistan has recently announced updated prices for petroleum products that will be in effect until the month’s end, and the news has sent shockwaves through the nation.

The new rates are as follows: Petrol is at Rs 331.38 per liter, and high-speed diesel (HSD) is at Rs 329.18 per liter.

These prices represent a significant increase of Rs 10.93 per liter for petrol and Rs 17.34 per liter for HSD over previous rates. Unfortunately, these new costs have reached an all-time high in Pakistan.

The government supports the price increase by citing rising global energy prices. Nonetheless, this move has sparked widespread dissatisfaction among individuals and companies, who claim that the government isn’t doing enough to alleviate their financial burdens in the face of rising living costs.

The repercussions of this petroleum price hike are expected to reverberate through the Pakistani economy. It will amplify transportation expenses, consequently raising the costs of goods and services and further intensifying an already elevated inflation rate.

To offset the negative consequences of rising oil costs, the government must implement measures such as subsidies, lower taxes on petroleum products, and investments in public transit and renewable energy sources.

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