In light of the military conflict between the United States and Iran, a critical economic crisis has been faced by Pakistan, and there is a severe shortage of oil and gas in the country. The neighboring nation has been suffering from a financial crunch, and currently, inflation has reached its peak in the country. Pakistan Oil and Gas Authority has announced a 35 percent increase in the price of domestic LPG cylinders for the month of April.
As a result, the price of an 11.8 kg cylinder has increased by 924 rupees, and its new price is 3,588.60 rupees, compared to 2,664.88 rupees in March. This unexpected price hike has put a heavy burden on the pockets of ordinary consumers.
As per new guidelines issued by OGRA, the price of LPG per kilogram has increased from 225.84 rupees to 304.15 rupees. Pakistan relies on foreign imports to fulfill its energy requirements. 80 to 85 percent of its oil imports come from Gulf countries such as Saudi Arabia, the United Arab Emirates, and Kuwait.
As most of its oil imports pass through the Strait of Hormuz, this conflict has made this route unstable. This has resulted in a severe shortage of fuel in the local market, ultimately forcing the general public to bear the brunt of rising prices.
