Cooking Oil and Ghee Prices Surge by Up to Rs60 per Kg, Adding Pressure on Consumers

In a sharp turn impacting households across Pakistan, the prices of cooking oil and ghee have risen significantly in November 2024. The price increase has reached up to Rs60 per kilogram in the open market, pushing the cost of essential items beyond the reach of many.

First-grade ghee and cooking oil, which previously retailed at Rs505 per kg, now stand at Rs559 per kg—a jump of Rs54. Meanwhile, second-grade ghee prices have increased from Rs440 to Rs500 per kg, with retail prices varying by area. Some vendors report prices between Rs525 and Rs530 for general ghee and between Rs530 and Rs540 for second-grade oil, which was initially priced at Rs452 per litre.

This price hike occurs amid a recent, minor decline in Pakistan’s overall inflation rate, contradicting hopes for stable consumer prices. Many families now face further strain on their already tight budgets as the costs of essential food items soar.

In a separate move, the Utility Stores Corporation (USC) announced a minor relief for consumers by reducing sugar prices by Rs13 per kg across utility stores, lowering the rate from Rs153 to Rs140. This discount, however, does little to offset the challenges posed by the steep rise in cooking oil and ghee prices.