The price of kerosene in Pakistan has experienced a significant increase, with the government announcing a sharp hike of Rs70.73 per litre. This adjustment brings the new retail price of kerosene to Rs428.74 per litre, effective immediately. Prior to this revision, kerosene was sold at Rs358.01 per litre, marking a substantial rise that is expected to impact households and small businesses relying on this fuel for daily use.
In contrast to the kerosene price surge, the government has decided to keep the prices of other major petroleum products unchanged for the time being. A separate official notification confirmed that petrol and diesel prices will remain steady, despite ongoing fluctuations in the international oil markets. Petrol continues to be priced at Rs321.17 per litre, while diesel remains at Rs335.86 per litre, providing some relief to consumers amid rising inflationary pressures.
The Petroleum Division clarified that the decision to maintain petrol and diesel prices was made deliberately, even though global crude oil prices have been on the rise. To cushion the impact on consumers, the government has committed to absorbing the price differential for oil marketing companies. the notification, the government will pay Rs176.41 per litre for high-speed diesel and Rs77.98 per litre for petrol, effectively subsidizing these fuels to prevent further strain on the public.
Prime Minister Shehbaz Sharif addressed the nation regarding the recent adjustments in petroleum prices. He acknowledged the heavy financial burden placed on the public following the Rs55 per litre increase in petrol prices earlier. The Prime Minister emphasized that the government is fully aware of the challenges faced by ordinary citizens and is taking steps to mitigate the impact. He also highlighted that the government will bear the Rs24 billion cost arising from the recent hikes in petroleum product prices, underscoring the administration’s commitment to shielding consumers from excessive fuel price volatility.
This latest development comes amid a broader context of rising energy costs globally, which have been affecting economies worldwide. In Pakistan, where fuel prices directly influence transportation, agriculture, and manufacturing sectors, such increases tend to have a ripple effect on the overall cost of living. The kerosene price hike, in particular, is likely to affect low-income households that depend on it for cooking and heating, raising concerns about affordability and access to essential energy sources.
As the government navigates these complex economic challenges, the decision to keep petrol and diesel prices stable while allowing kerosene to rise sharply reflects a balancing act between fiscal constraints and public welfare. Observers will be closely watching how these changes influence inflation rates and consumer sentiment in the coming weeks.
