Summary The fallout of regional tensions was expected, but not so severe. They fear exorbitant prices of everything
LAHORE (Dunya News) – The masses on Thursday saw unprecedented hike in petroleum prices after the federal government increased petrol prices by Rs137.23, and diesel Rs184.49 per litre, with new rates of petrol Rs458.40, and diesel Rs520.35 per litre.
The fallout of regional tensions was expected, but not so severe. Now, people will face hikes in rates of everything from daily use items to transportation, and medicines.
The public has rejected the sharp increase in the prices of petroleum products.
They said the rising prices of petrol and diesel will affect their budget and their life difficult. They said surge in fuel prices will increase the price of not only transportation but also everything, including food items.
A citizen reacted strongly, saying that the government is targeting the people through inflation, adding despite no increase in income, the continuous increase in expenses is becoming a serious problem.
Citizens demanded that the government reduce the prices of petroleum products to cut the burden of inflation. They said if the current situation continues, the middle and poor classes will face a severe financial crisis.
According to economists, the increase has a direct impact on overall inflation rate, which makes essential goods more expensive.
They advised the government to adopt balanced policies keeping in mind the public's difficulties so as to reduce economic pressure.
Minister Ali Pervaiz Malik said Pakistan imports nearly 90 percent of its oil from markets in Dubai and Oman, where prices have surged sharply in recent days.
He noted that diesel prices in international markets have crossed $250 per barrel, placing extraordinary pressure on domestic pricing.
