“Running on Fumes: Fuel Price Surge Deepens Economic Woes in Pakistan”
Adding yet another layer to the country’s growing cost-of-living crisis, the federal government has once again announced an increase in petroleum product prices. According to the latest figures released by the Ministry of Finance, petrol will now cost Rs. 298 per liter, following a Rs. 12 per liter hike.
High-speed diesel hasn’t been spared either, seeing a jump of Rs. 10 per liter, while kerosene and light diesel oil have also gone up — intensifying the pressure on households and transporters alike.
Nationwide Discontent: “We’re Out of Fuel and Out of Options”
From urban streets to remote villages, frustration over rising fuel prices is being echoed loudly. Motorbike riders, rickshaw drivers, delivery workers, and ride-hailing drivers say they’re being priced out of their livelihoods.
A rickshaw driver in Lahore shared his struggle:
“Each trip to the pump feels like getting robbed. I can’t raise fares, but my expenses keep rising. How am I supposed to survive like this?”
Private vehicle owners are cutting back on travel, while public transport operators warn that fare hikes may soon become unavoidable, affecting millions of daily commuters.
What’s Driving the Price Surge?
- Volatile Global Oil Market:
Officials attribute the latest hike to fluctuating international crude oil prices. With no stability in global rates, local prices are being adjusted frequently. - Rupee’s Decline:
The ongoing depreciation of the Pakistani Rupee against the US Dollar is making oil imports more costly, directly impacting pump prices. - High Taxes & Petroleum Levy:
Economic analysts highlight that a large portion of the petrol price is made up of government-imposed taxes and levies. These remain in place even when global oil prices dip, limiting any potential relief for the public.
Inflation Ripple Effect: A New Storm Brewing
Economists caution that the fuel price increase will set off a chain reaction throughout the economy. As transport costs rise, the prices of everyday essentials—such as food, medicine, and construction materials—are expected to follow.
One analyst remarked:
“A rise in fuel costs doesn’t just impact vehicles. It quietly drives inflation in every sector, from your grocery bag to your electricity bill.”
Government’s Response
Defending the increase, the Ministry of Finance explained that the pricing mechanism is based on international trends and a market-linked formula. Officials promised that any drop in global oil prices will be reflected in future reductions.
However, critics argue that by the time relief reaches the public, damage has already been done.
Conclusion:
In today’s Pakistan, fuel is no longer just an expense — it’s a daily struggle. With petrol nearing the Rs. 300 mark, families are being forced to choose between commuting and meeting basic needs. As prices soar and incomes stagnate, the nation faces a critical question:
How long can the people keep moving forward when their wallets — and fuel tanks — are empty?
