Households in Pakistan are feeling the strain as cooking oil and ghee prices have spiked sharply in November 2024, with increases reaching up to Rs60 per kilogram in the open market. The rise comes despite a recent, albeit modest, drop in the country’s inflation rate, adding further pressure to consumers’ budgets.
Market data reveals that the price of first-grade ghee and cooking oil has surged by Rs54 per kg, while second and third-grade varieties have experienced hikes of up to Rs60 per kg. This escalation has lifted the price of first-grade ghee and oil from Rs505 to Rs559 per kg, leaving consumers to bear the impact of rising food costs.
For second-grade ghee, which was previously set at Rs440 per kg, the price has now increased to Rs500. The retail cost of ghee across various areas has risen to a range of Rs525 to Rs530 per kg, adding to the strain on average household expenses.
The cost of second-grade oil has also increased significantly, rising from Rs452 per liter to Rs512. Reports indicate that some vendors are charging between Rs530 and Rs540 per liter, depending on location, underscoring a substantial variation in prices across different regions.
Meanwhile, the Utility Stores Corporation (USC) has introduced a bit of relief with a slight reduction in sugar prices at its outlets. Announced last week, the price cut brings the cost of sugar down by Rs13 per kg, dropping from Rs153 to Rs140 per kg. This reduction is part of USC’s ongoing efforts to alleviate the financial burden on consumers by offering subsidized essential commodities.
As the steep rise in cooking oil and ghee prices continues to challenge household budgets, the minor relief in sugar prices provides limited respite amidst the broader increase in essential goods.
