In a major shift in the market, the prices of cooking oil and ghee have surged by up to Rs60 per kilogram in November 2024. This price hike comes despite a reported decline in inflation rates, raising concerns among consumers across Pakistan. The increase in prices of first, second, and third-grade cooking oils and ghee is affecting daily household budgets.
Price Increase of Cooking Oil and Ghee in Pakistan
According to recent reports, the price of first-grade cooking oil and ghee has increased by Rs54 per kilogram, pushing the retail price from Rs505 to Rs559. For second and third-grade ghee and oil, the increase has been even more significant, with prices rising by Rs60 per kilogram.
- First-Grade Ghee and Oil: The price of first-grade ghee and oil has surged from Rs505 to Rs559, marking a noticeable increase in the cost of premium cooking oils.
- Second-Grade Ghee and Oil: The price of second-grade ghee, previously priced at Rs440, has now risen to Rs500. Similarly, second-grade oil, once sold for Rs452 per liter, now costs Rs512, with prices in some areas reaching Rs530 to Rs540 per liter.
Regional Price Variations of Ghee and Oil
The retail prices of ghee also show some regional variations, ranging between Rs525 and Rs530 in different locations. This inconsistency in pricing further adds to the financial burden on consumers, especially those in lower-income brackets.
Sugar Prices See Decrease at Utility Stores
Interestingly, while the prices of cooking oil and ghee are on the rise, the price of sugar has seen a reduction. The Utility Stores Corporation (USC) recently announced a price decrease for sugar, with the price dropping by Rs13 per kilogram. Sugar, which was previously sold for Rs153 per kg, is now available at Rs140 per kg at utility stores across Pakistan.
Impact of Price Increase on Consumers
The sharp rise in the cost of cooking oil and ghee is a blow to households already struggling with rising food prices. As essential ingredients in many Pakistani kitchens, the price hike in these staple items is likely to impact the daily expenses of families.
While the reduction in sugar prices at utility stores offers some relief, the steep increase in the prices of cooking oil and ghee presents a growing challenge for consumers. With inflation rates declining, it is unclear why these essential commodities continue to rise in price, leaving many to wonder about the future of food prices in Pakistan.
For consumers looking to manage their household expenses, keeping track of fluctuating food prices remains crucial in these uncertain times.
