Petrol Prices are likely to increase in November

Petrol products are rumored to become more expensive from November 1.

According to the sources of oil marketing companies, due to the effects of rising oil prices in the global market and the depreciation of the rupee, the price of petrol is estimated to increase by another PKR 7 from November 1. It has also been reported that the price of diesel is expected to go up by PKR 9 per liter at the beginning of next month.

It should be noted that the Federal Bureau of Statistics (FBS) has released data on the 3-year record of inflation, according to which inflation in Pakistan has broken the 70-year record in the last three years, food prices have doubled, while the prices of ghee, oil, sugar, flour and poultry have reached historic levels.

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According to the FBS, from October 2018 to October 2021, electricity rates have increased by 57% from PKR 4.06 per unit to at least PKR 6.38 per unit. At the unit level, according to the FBS Price Sensitive Index (SPI), from October 2018 to October 2021, electricity rates increased by 57% to PKR 6.38 paisa per unit.

It is to be noted that at present the prices of petrol products in the country have reached the highest level in the history. While Jamaat-e-Islami has also come to forth.

Meanwhile, actor Ayub Khoso has recorded his protest by cycling against the rise in prices of petrol products and rising inflation. He said:

“Due to the current economic downturn and rising prices of petroleum products, the lives of ordinary people have become indigestible. Achieving also seems impossible.”

He also mentioned that he was recording his protest by cycling to show solidarity with the people.

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