Islamabad: The government has announced a significant increase in petroleum prices, raising petrol by Rs6.51 to Rs399.86 per litre, while high-speed diesel surged by Rs19.39 to Rs399.58 per litre. The new prices will be effective from midnight across Pakistan. Officials linked the hike to rising global crude oil prices exceeding $112 per barrel and ongoing Middle East tensions. This move under the Governance & Policy Cluster is expected to impact transportation costs, inflation, and daily expenses nationwide. For Lahore and Punjab residents, higher fuel prices may lead to increased fares and commodity prices. Public reaction shows panic buying at fuel stations. Will this price hike further increase inflation? How will it affect your monthly expenses?
