ISLAMABAD – The government has once again come to the “rescue” of consumers, this time by making petrol and diesel more expensive and giving household budgets another reason to panic.
For August 18, petrol will cost Rs331.20 per litre after a Rs5.77 increase, while High-Speed Diesel has jumped by Rs6.47 to Rs390.42 per litre. The latest rates were announced by the Ministry of Energy’s Petroleum Division in a notification issued on August 17 under the government’s revised petroleum pricing mechanism.
With petrol now comfortably above Rs331 and diesel crossing Rs390 per litre, motorists can look forward to a fresh round of calculations before every trip. Higher diesel prices are expected to push up transportation and freight costs, which could eventually make their way into public transport fares and the prices of everyday goods.
For cash-strapped households already battling the rising cost of living, the latest hike means another squeeze on monthly budgets, proving once again that when it comes to petrol prices, there is apparently no shortage of upward momentum.
