Government’s Pre-Eid Petrol Price Hike Stirs Public Outrage
In a surprising move, the newly elected federal government has decided to raise the price of petrol just days before Eid ul Fitr. According to a notification from the Finance Division, the price of petrol has been hiked by Rs. 9.66 per litre, bringing it to Rs. 289.41 per litre from the previous Rs. 279.75.
The decision comes amidst fluctuating international oil prices, where the price of Petrol (Motor Gasoline) surged while that of high-speed diesel (HSD) marginally declined. Consequently, the price of HSD has been decreased by Rs. 3.32, settling at Rs. 285.56 per litre.
This adjustment contrasts with the previous review in March 2024 when the government maintained the price of petrol but reduced the price of high-speed diesel by Rs. 1.77 per litre.
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The timing of this increase, just ahead of Eid ul Fitr, has raised concerns among consumers, particularly as they prepare for festivities during the holiday. It remains to be seen how this decision will impact the public sentiment and the economy in the coming days.
Public Reaction and Economic Ramifications Awaited
The sudden increase in petrol prices has elicited mixed reactions from the public, especially with Eid ul Fitr celebrations approaching. Many citizens express dismay over the timing of the hike, as it adds financial strain during a festive period when expenses typically rise.
Furthermore, businesses, particularly those reliant on transportation, are bracing for the impact of higher fuel costs. Small-scale enterprises, already grappling with economic challenges, fear the additional burden may further squeeze their profit margins.
The government’s decision also raises questions about its broader economic strategy. While citing international market fluctuations, critics argue that such abrupt adjustments could fuel inflation and dampen consumer spending, potentially hindering economic recovery efforts.
As the nation awaits Eid ul Fitr, a time traditionally marked by joy and celebration, the petrol price hike casts a shadow of uncertainty over the festivities. All eyes are now on the government’s subsequent actions and the potential measures it may take to mitigate the effects of this controversial move.
