LAHORE  -  In a major blow to household budgets, prices of cooking oil and ghee have risen sharply in November 2024, with a hike of up to Rs60 per kilogram in the open market.

The increase comes even as the country recently recorded a slight decline in its inflation rate. According to market reports, the price of first-grade ghee and cooking oil has surged by Rs54 per kg, while the rates for second and third-grade varieties have spiked by Rs60 per kg. This steep rise has pushed the retail price of first-grade ghee and oil from Rs505 to Rs559 per kg, leaving consumers grappling with soaring costs. The price for second-grade ghee, which was previously set at Rs440 per kg, has now jumped to Rs500. Meanwhile, the retail prices for ghee in general have reached between Rs525 and Rs530 per kg, depending on the area.

Additionally, the price of second-grade oil, formerly priced at Rs452 per litre, has surged to Rs512, with some vendors reportedly selling it between Rs530 and Rs540 per litre.

In a contrasting move, the Utility Stores Corporation (USC) last week announced a Rs13 per kg reduction in sugar prices at utility stores across the country, dropping it from Rs153 to Rs140 per kg.