Another setback for inflation-hit consumers has emerged as goods transporters have announced an increase in freight charges. Following the recent rise in diesel prices, the decision is expected to put further pressure on the prices of essential commodities.
According to details, President of the All Pakistan Goods Transporters Alliance Malik Shahzad Awan announced a 7 per cent increase in goods transport fares.
Malik Shahzad Awan said that diesel prices had increased by Rs26.88 per litre over the past seven days, while petrol prices had also risen by Rs20 per litre during the same period.
Transporters’ position
Malik Shahzad Awan said the recent increase in fuel prices had significantly raised the operating costs of goods transporters. He said the 7 per cent increase in freight charges had therefore been decided to offset the additional costs.
Goods transport plays an important role in transporting essential commodities and other products from one part of the country to another. An increase in freight charges could therefore have a direct impact on the cost of transporting goods.
Essential commodities may become more expensive
The increase in goods transport fares could create additional inflationary pressure for consumers. Higher transportation costs may put pressure on the prices of various products, particularly essential commodities whose transportation costs could rise.
However, the final impact of the freight increase will depend on the type of goods, transportation distances and prevailing market conditions.
New inflationary pressure on consumers?
The rise in fuel prices has already increased expenses for consumers, while higher goods transport charges could also raise business and distribution costs.
The impact of the 7 per cent increase on the prices of essential commodities will become clearer in the coming days as businesses and markets adjust to the higher transportation costs.
Increase in petroleum product prices
It is worth mentioning that the government recently announced revised prices of petroleum products for the next one-day period.
According to a notification, the price of petrol was reduced by 43 paisas per litre, while the price of high-speed diesel was increased by Rs3.47 per litre.
The new price of petrol has been fixed at Rs390.79 per litre, while high-speed diesel will cost Rs424.92 per litre.
The Petroleum Division said the Oil and Gas Regulatory Authority (OGRA) had revised the prices for September 18 under the government’s petroleum pricing mechanism.