Petrol Prices Rise Yet Again.

Pakistan, owing to the guidelines of IMF, has been facing a lot of problems regarding rising prices, with every passing month. Similarly, all petrol related products are subsequently also expected to rise. Earlier, on the 15^th of February 2022, it was reported that petrol prices would be hitting, in fact crossing the mark of 160 Rs per litre, an all-time high, something Pakistan has not witnessed, on a usual.

Speaking of this second time, this is a result of the global surge in the price of petroleum. As for this instance, the prices are expected to go from Rs 8 to Rs 10 above what they are at this point. Petrol and high-speed diesel are expected to rise Rs 5.60 and Rs 4.50 per litre, respectively. Kerosene and light diesel oil will also increase by Rs 4 and Rs3.70, unfortunately. 

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The impact of fuel inflation, is, of course, something that affects every industry and business; however, we do know that the effect seems to be greater in urban economies- definitely due to industrialization. An increase in the petrol means, household spending also massively increasing because as it has been mentioned earlier, every single industry is affected as a result of such surges. The prices of goods, day to day needs, electricity and gas are already out of the access of a good chunk of people living in this country, and when people hear such shockers, it worsens their already declining standard of living along and of course their mental health.