Introduction
Many people have expressed their displeasure and irritation both online and offline as a result of Pakistan’s recent increase in the price of gasoline. Petrol is presently being sold for a record-breaking Rs. 331 per liter. The general public has been heavily burdened by this price hike, particularly those who depend on gasoline for commuting and earning a living.
Reasons for the price hike
The recent increase in petrol prices in Pakistan is the result of a number of causes. The growing price of crude oil on a global scale is one of the key causes. Due to rising demand and supply disruptions brought on by the conflict in Ukraine, crude oil prices have been rising recently.
The depreciation of the Pakistani rupee is another factor that has raised the price of gasoline. In the previous year, the rupee’s value against the US dollar fell by more than 20%. As a result, Pakistan’s imports of crude oil, which are priced in US dollars, are now more expensive.
Additionally, a number of taxes and tariffs levied by the Pakistani government on gasoline have raised the cost. Although the government needs to make money from these taxes and tariffs, consumers pay more for gasoline as a result.
Impact of the price hike
The general people in Pakistan has been significantly impacted by the most recent increase in gasoline prices. These days, many people find it difficult to afford the commute to job or education. Due to higher inflation and lower consumer spending, the price increase has also had a detrimental effect on the economy.
Public reaction
The public’s response to the increase in gas prices has been largely unfavorable. Social networking has become a popular outlet for people to vent their irritation and fury. In opposition to the price increase, some people have also organized rallies and demonstrations.
For how it handled the increase in the price of gasoline, the Pakistani government has come under fire. The administration has been charged with being unsympathetic to the needs of the ordinary public by some. Others have charged the administration with inefficiency and poor management.
What can be done?*l
Numerous actions can be taken to solve the issue of the increase in gasoline prices. One possibility is for the government to scale back or do away with the tariffs and taxes that are currently levied on gasoline. Consumers’ access to gasoline would improve as a result, while government revenue would decline.
Another choice is for the government to give consumers subsidies. For consumers, this would help lower the price of gas, but it would cost the government a lot of money to implement.
The government might also spend money on renewable energy sources and public transit. This would lower the nation’s dependency on imported crude oil and increase consumer transportation affordability.
Conclusion
Public indignation over the most recent increase in Pakistan’s gasoline prices has been widespread. The general public has been severely impacted by the price increase, particularly those who depend on gasoline for commuting and earning a living.
The price increase has been caused by a number of variables, including the depreciation of the Pakistani rupee, rising global crude oil costs, and government taxes and tariffs.
The price increase has received overwhelmingly negative feedback from the people. Social networking has become a popular outlet for people to vent their irritation and fury. In opposition to the price increase, some people have also organized rallies and demonstrations.
For how it handled the increase in the price of gasoline, the Pakistani government has come under fire. The administration has been charged with being unsympathetic to the needs of the ordinary public by some. Others have charged the administration with inefficiency and poor management.
Numerous actions can be taken to solve the issue of the increase in gasoline prices. The government might invest in public transit and renewable energy sources, lower or remove the taxes and levies that are currently levied on gasoline, or give customers incentives.
