In a world where transportation is taken as a lifeblood of economies, a major or minor or surge in fuel prices sends a ripple across the industries. In a recent update, the transportation sector faced the same after the federal government announced an uneven rise in fuel prices, prompting transporters to make a tough decision – a 20% increase in fares. A news article indicates that bus charges have specifically gone up in Lahore.
These augmented fares will be implemented to both air-conditioned and non-air-conditioned buses. The declaration has sparked worries among the populace, particularly since inter-city travels are projected to become excessively expensive for a vast majority.
The federal government unexpectedly heightened the prices of petroleum products by nearly Rs. 20 per liter earlier today, catching everyone off-guard as there was no prior indication of this decision.
Govt Increased Petrol Prices Rs. 19.95
In a news conference, Finance Minister, Ishaq Dar, made a major announcement regarding the prices of petroleum products. As per the changes, the government decided to increase the prices of petroleum products substantially.
According to the Finance Minister’s announcement, the price of High-Speed Diesel (HSD) raised by Rs. 19.90 per litre, resulted in a new price of Rs. 273.40 per litre. Similarly, the price of petrol jacked up by 19.95 per litre, making the new price Rs. 272.95 per litre.
The finance minister stated that the recent surge in international oil prices has led to this decision, and considering the economic situation, the government had no choice but to implement this price hike. He also highlighted that the fluctuations in global oil markets and consultations with the Oil and Gas Regulatory Authority (OGRA) played a role in determining the new prices.
What do you think about the latest surge in fares? Tell us in the comments section.
