This week, the Pakistan government announced that it would be hiking fuel prices yet again, taking them to historic highs of over Rs 330 per litre.
On Friday, the Pakistani Ministry of Finance increased the price of gasoline and diesel by Rs. 26.02 and Rs. 17.34, respectively, per litre. Petrol and high-speed diesel (HSD) are now significantly more expensive than Rs 330 at filling stations as a result of the increase.
The costs were described as "a psychological barrier that has been crossed for the first time in the history of the country" by the local newspaper Dawn.
The nation, which has been in a state of political turmoil with a caretaker administration in charge for months, is under more stress as a result of the country's inflation rising by nearly 27.4% in August. Fuel prices have increased by 20% since the government took office in August.
"Owing to the increasing trend of petroleum prices in the international market, the government has decided to revise the existing consumer prices of petroleum products," the ministry said in its announcement.
This is not this month's first hike, with the government hacing jacked up prices by Rs 14 on September 1.
Since August 15, the joint increase in fuel prices has resulted in a one-month increase of Rs 58.43 and Rs 55.83 per litre.
The Pakistani government levies a Rs 60 per litre petroleum development fee and Rs 50 per HSD due to a commitment to the International Monetary Fund.
In July, the IMF transferred $1.2 billion to cash-strapped Pakistan, part of a $3 billion bailout programme to be disbursed over nine months to support the government's efforts to stabilise the country's ailing economy.
Pakistan's economy has been in free fall for past few years, bringing untold pressure in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet.