Islamabad, March 16 (IANS) Pakistan's federal government has raised the price of kerosene and Light Diesel Oil (LDO), local media reported on Monday. The price of kerosene oil has been raised by Pakistani Rupees (PKR) 39.20 per litre, setting the new rate at PKR 358.01 per litre, according to the Petroleum Division of Pakistan's Ministry of Energy.

The government has also increased the rate of Light Diesel Oil by PKR 67.51 per litre, setting the new price at PKR 302.52 per litre, 'The Express Tribune' reported.

At the same time, the Pakistan government has said that the petroleum levy on petrol and diesel will remain unchanged. The levy on petrol will stay at PKR 105.37 per litre while the levy on diesel will remain at PKR 55.24 per litre.

On March 6, Pakistan government increase the price of petrol and high-speed diesel by PKR 55 per litre each. After the government's announcement, the ex-depot price of high-speed diesel rate had been revised to PKR 335.86 per litre while the ex-depot petrol price had been raised to PKR 321.17 per litre from PKR 266.17 per litre, another leading Pakistani daily 'Dawn' reported.

Pakistan's Petroleum Minister Ali Pervaiz Malik made the announcement during a press conference alongside Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.

Meanwhile, a report has highlighted that the sharp increase in fuel prices in Pakistan are turning painful during Ramadan, when household budgets are already under strain because the rise in the prices of basic necessities disproportionately affects middle-class families.

“The timing of the increase has, therefore, intensified public anger. Ramadan is traditionally a period when governments are expected to provide relief through targeted support for essential goods. Instead, households are confronting a cost shock that is quickly eroding purchasing power just as families begin planning for Eid expenses,” the Dawn reported.

Moreover, the price hike impact is particularly severe for millions of daily wage earners and gig workers whose incomes are modest and uncertain.

Pakistan’s heavy dependence on imported fuel makes domestic prices highly vulnerable to international shocks.

“Fuel prices are never an isolated economic phenomenon. In an import-dependent economy like Pakistan’s, they act as a powerful transmission channel through which cost pressures spread across almost every sector,” the report detailed.

Transport fares have begun rising across cities within hours of the announcement. For millions who rely on public transport or motorcycles to commute to work, this translates into an unavoidable increase in daily expenses.

The Dawn report further stated that households in Pakistan are confronting a cost shock that is quickly eroding purchasing power just as families begin planning for Eid expenses.

In Peshawar, the petrol and diesel price hike has pushed up commodity prices and inter-city travel costs, while petroleum dealers report a noticeable decline in fuel sales.

--IANS

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