ISLAMABAD: Despite a significant decline in global oil prices, the federal government has decided not to reduce petrol and high-speed diesel prices for consumers, instead increasing the petroleum levy.
According to figures shared by Petroleum Minister Ali Pervaiz Malik, international petrol prices fell from $98.35 per barrel on June 22 to $91.68 on June 26, while high-speed diesel declined from $109.09 to $104.79 per barrel during the same period.
The minister said the government remains committed to balancing consumer relief with its international financial obligations, adding that since Prime Minister Shehbaz Sharif took office, petrol prices have been reduced by Rs155 per litre and diesel by Rs200 per litre overall.
However, the government has raised the petroleum levy. The levy on diesel has increased by Rs6.57 to Rs79.54 per litre, while the levy on petrol has been raised by 39 paisas to Rs66.64 per litre.
Under the latest pricing decision, petrol remains at Rs299.50 per litre and high-speed diesel at Rs311.47 per litre. Kerosene prices have been reduced by Rs6.85 per litre to Rs227.05 per litre, while jet fuel has been cut by Rs7.15 per litre to Rs231.72 per litre.
The decision has sparked debate, with critics arguing that consumers were not given the full benefit of falling international oil prices due to the increase in the petroleum levy.
