Did gas prices in Pakistan really spike over 1100% in one year?

WEB DESK: Gas prices surged by an astonishing 1,108.59 per cent in the week ending November 24, compared to the same period last year, according to the Sensitive Price Index (SPI).

The lower quintile charges experienced this significant increase.

However, the Ministry of Energy reported a 65 per cent average increase in gas prices effective in November 2023.

This discrepancy in percentage raises concerns about a fundamental issue in the calculations made by both parties.

According to The News, reliable sources from within the government confirmed that the Ministry of Energy has raised the matter with the Pakistan Bureau of Statistics (PBS), questioning the methodology behind such a substantial hike.

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In the latest SPI report, the bureau calculated a 480 per cent increase in gas charges for the lowest quintile compared to the corresponding week last year.

Despite meetings between high-ranking officials from the Ministry of Energy and PBS, a consensus on a mutually agreed-upon and workable solution remains elusive.