By Web Desk 
The Pakistani government has announced the revised petrol and diesel prices for October 2024, which took effect on October 1st. The latest adjustment has seen a considerable rise, with petrol now priced at Rs. 325 per liter and diesel at Rs. 320 per liter. This marks another increase in fuel prices, sparking concerns among the public about the rising cost of living.
The hike is attributed to the fluctuating international oil prices and the ongoing devaluation of the Pakistani Rupee against the US dollar. According to the Oil and Gas Regulatory Authority (OGRA), the global oil market’s instability, coupled with the local currency’s depreciation, has forced the government to pass on the increased costs to consumers.
Transporters have already announced an imminent fare hike, and experts predict this fuel price surge will lead to an increase in inflation across the board. It’s not just the transport sector feeling the pinch; the agricultural sector, heavily reliant on diesel for machinery, will also face additional costs, potentially driving up food prices in the coming weeks.
The government is under pressure to introduce relief measures to mitigate the impact on the common man, but with limited fiscal space, the options appear limited. This development has intensified calls for the government to adopt long-term energy policies to shield the economy from such fluctuations in the future.