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Social media furious with the latest hike in price of petroleum products

With the latest hike in petrol prices, masses fear a fresh surge in inflation. They called out the government to revert the price hike. The increase in petrol price has become the top trend on social media

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Netizens have been calling out the current government of Prime Minister Imran Khan for the latest hike in the price of petroleum products announced on Saturday.

In the latest increase, the government has increased the petrol price by Rs.10, the new price reaching at Rs.138 per liter. The price of high-speed diesel has been increased by Rs.12.44. The HSD will now sell at Rs.134.48.

Meanwhile, the price of kerosene and light diesel oil were increased by Rs,10.95 and Rs 8.84 liter respectively. The new price of kerosene is Rs110.26 per liter and that of LDO is Rs108.35 per liter.

 

This is perhaps the first time all the four major petroleum products will be sold at above Rs100 per liter.

Read more: PM Khan rejects hike in prices of petroleum products

The notification stated that the oil prices in the international market had risen around $85 a barrel calling it the highest increase in the oil prices since October 2018.

“Importantly, entire energy chain prices have witnessed a strong surge in the past couple of months due to higher demand for energy inputs and supply bottlenecks,” it further stated.

The statement further added that the government absorbed the pressure of increasing petrol prices globally and provided “maximum relief” to consumers by keeping the petrol levy and sales tax to a minimum, the Finance Division said.

 

“Therefore, prices worked out by Ogra (Oil & Gas Regulatory Authority) have been approved,” it added.

With the latest price hike in the petroleum products, masses fear a fresh surge in inflation. They called out the government to revert the price hike. The increase in petrol price has become the top trend on social media on Saturday with users heavily weighing in on the subject.

Read more: Govt raises Petrol price by Rs 2/ltr only

A majority of them argue that inflation will further stifle people, already struggling to meet their daily needs since there has not been any significant improvement in the purchasing power of the people.

Others argued that government should work on ways to rectify the tax system in Pakistan as many people are still escaping to pay due taxes to the government

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