Islamabad, March 16 (NationPress) - The federal government of Pakistan has announced an increase in the prices of kerosene and Light Diesel Oil (LDO), according to local news sources reported on Monday. The price of kerosene has surged by PKR 39.20 per litre, marking the new price at PKR 358.01 per litre, as confirmed by the Petroleum Division of Pakistan's Ministry of Energy.

Additionally, the cost of Light Diesel Oil has been raised by PKR 67.51 per litre, establishing the new price at PKR 302.52 per litre, as reported by 'The Express Tribune'.

Simultaneously, the government has stated that the petroleum levy on petrol and diesel will remain constant. The petrol levy will continue at PKR 105.37 per litre, while the diesel levy holds steady at PKR 55.24 per litre.

On March 6, the government had previously increased the prices of petrol and high-speed diesel by PKR 55 per litre each. Following this announcement, the new ex-depot price of high-speed diesel was updated to PKR 335.86 per litre, while the ex-depot petrol price was raised to PKR 321.17 from PKR 266.17 per litre, as reported by another leading Pakistani daily, 'Dawn'.

Pakistan's Petroleum Minister, Ali Pervaiz Malik, made these announcements during a press conference alongside Deputy Prime Minister and Foreign Minister Ishaq Dar, and Finance Minister Muhammad Aurangzeb.

Reports indicate that the significant hike in fuel prices is becoming increasingly burdensome during Ramadan, a period when household budgets are already stretched thin. The rise in the cost of essential goods disproportionately impacts middle-class families.

“The timing of this increase has escalated public frustration. Ramadan is traditionally a time when governments are expected to provide relief through targeted aid for essential goods. Instead, families are facing a cost shock that is rapidly diminishing their purchasing power, especially as they prepare for Eid expenses,” stated 'Dawn'.

Moreover, the repercussions of this price surge are particularly harsh for millions of daily wage earners and gig workers whose earnings are meager and unstable.

Pakistan's heavy reliance on imported fuel renders domestic prices highly susceptible to international fluctuations.

“Fuel prices are intertwined with the broader economy. In an import-dependent system like Pakistan's, they serve as a significant channel for spreading cost pressures across nearly every sector,” the report elaborated.

Transport fares have already begun to increase across cities shortly after the announcement. For the millions who depend on public transportation or motorcycles for their daily commutes, this translates to a necessary rise in daily expenses.

According to 'Dawn', households in Pakistan are facing a cost shock that is swiftly eroding their purchasing power just as families start planning for Eid celebrations.

In Peshawar, the increase in petrol and diesel prices has driven up the costs of commodities and inter-city travel, while fuel dealers report a noticeable downturn in sales.