Record highs hit in petroleum, electricity, gas prices during current financial yes

ISLAMABABAD: The International Monetary Fund (IMF) dictated a historic levy of 60 rupees on petrol and diesel, catapulting prices to their highest ever in the nation's history. As the fiscal year progressed, petrol soared by 6 rupees 36 paisa and diesel by 9 rupees 72 paisa per liter.
During the fiscal year 2023-24, electricity consumers faced a staggering burden of more than 1700 billion rupees through tariff hikes and adjustment charges, exacerbating inflationary pressures.
Gas prices witnessed a double increase, first by 172% on November 1, 2023, followed by a 67% hike on February 1, 2024. This escalation, coupled with a rise in fixed charges for non-protected customers, intensified the financial strain on households nationwide.
Starting the financial year at Rs 262 per liter for petrol and Rs 260.50 for diesel, prices surged to Rs 268.36 and Rs 270.22 respectively near its end. September 16, 2023 marked a grim milestone when petrol hit an all-time high of Rs 331.38 and diesel reached Rs 329.18 per liter under the caretaker government.
Throughout 2024, citizens faced relentless pressure from escalating electricity prices, with monthly and quarterly adjustments exceeding Rs 700 billion.
This financial year has proven to be a tumultuous period for the economy, with citizens grappling with unprecedented price hikes across essential commodities.