After making grandiose statements about offering help to the people, the administration dramatically increased the price of gas and diesel.
govt increases petrol and diesel prices: The price of petrol has increased significantly, going from Rs26.2 to Rs331.38 a litre.
Additionally, the price of diesel was increased by Rs17.34, making the new per-litre cost Rs329.18.
The caretaker government increased the cost of fuel and diesel by Rs. 58 and Rs. 56 per litre, respectively, within a month.
While announcing the new monetary strategy, the State Bank of Pakistan (SBP) asserted that the inflation will be steadily reduced.
Following the sharp increase in the price of gas and diesel, economists issued a new round of inflation warnings.
The Economic Coordination Committee (ECC) authorised last week raising the profit margin for oil marketers and dealers.
The sale margin for petrol and diesel will increase by Rs3.5 per litre, as allowed by the interim administration.
The decision was made during a meeting of the Economic Coordination Committee (ECC) earlier in the month, which was presided over by interim finance minister Shamshad Akhtar. The committee recommended raising the petrol and diesel sale margin for OMCs and dealers.
As the price of commodities throughout the world continues to rise, it was previously claimed that the government intended to increase petrol prices.
On September 15, the Oil and Gas Regulatory Authority (Ogra) was anticipated to release new prices based on the average global crude oil prices.
The caretaker administration raised the cost of petrol by Rs 14.9 per litre on September 1.
The price of petrol climbed by Rs 14.9 per litre to reach Rs 305.36 per litre, while the cost of high-speed diesel (HSD) jumped by Rs 18.44 per litre to reach Rs 311.84.