In neighboring India's country, Pakistan, the economic situation is deteriorating, and the population feels strong pressure due to rising inflation. The constant increase in fuel prices, initiated by the government, particularly affects citizens' budgets. In Pakistan, the cost of gasoline and diesel fuel was increased again on Tuesday.
Following this significant increase implemented by the government of Shahbaz Sharif, the price of one liter of gasoline exceeded 380 rupees, while diesel fuel approached 410 rupees per liter.
The Pakistani government under Shahbaz Sharif once again increased the burden of inflation on the population on Tuesday. An increase in the price of gasoline by 4.42 Pakistani rupees per liter was made in the country; consequently, citizens will now have to pay 380.24 rupees instead of the previous 375.82 rupees for one liter of gasoline. Simultaneously, the price of high-octane diesel fuel rose by 6.10 rupees per liter, increasing from 403.32 rupees to 409.42 rupees per liter. These new tariffs came into effect on September 15.
These new rates were announced by the Ministry of Energy (Petroleum Division) after a review by the Oil and Gas Regulatory Authority of Pakistan (OGRA). It should be noted that this is the sixth time the government has taken such a step to raise fuel prices this month. The government of Shahbaz Sharif reviews fuel prices based on international crude oil prices and other related factors, after which new rates are published.
Previously, on July 17, the government announced the introduction of a new pricing system according to which fuel prices in Pakistan are adjusted daily. Before this change, changes in gasoline and diesel fuel prices occurred every fifteen days, and then became weekly, and now—daily. Against the backdrop of rising global crude oil prices, the government of Shahbaz Sharif continues to increase gasoline and diesel prices, increasing the burden on the population. The rise in crude oil prices on the international market has a significant impact on countries like Pakistan, which depend on oil imports. The increase in fuel prices not only leads to higher costs for gasoline and diesel but also creates a risk of inflation in essential goods.