In a move that is feared to unleash a new wave of massive inflation across the country, the government has enormously increased the prices of petroleum products and electricity tariff effective from Tuesday (October 1), Geo News reported Monday.
According to sources at the Ministry of Petroleum, the petrol price has been raised by Rs4.12 and that of diesel by Rs4.69 per litre. Now a litre of petrol and diesel will be available to the consumers at Rs113.25 and Rs116.95 respectively.
The price of light diesel has been jacked up by Rs2.81 per litre to Rs101.24.
Earlier today, the government had notified a staggering rise in electricity tariff of up to Rs5.89 per unit with effect from October 1.
The above steps are expected to let loose a huge storm of price hike, as rates of all the essential items including edibles will sharply go up in the coming days. The worst-hit will once again be the masses including the people belonging to low and fixed income brackets.
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