ISLAMABAD – Pakistani government jacked up petroleum prices three times within span of 2 months, raising concerns among masses. According to recent figures, the price of petrol has surged by Rs18.52 per liter over the last month, reaching Rs 272.15.
Price of high-speed diesel has been raised by Rs29.71 per liter, bringing it to Rs 284.35.
Despite a temporary increase in global crude oil prices due to the conflict between Iran and Israel, international prices have significantly dropped comes amid ceasefire on June 24, with crude oil falling to around $68 per barrel.
The actual base price of diesel stands at Rs 177.89 per liter, while petrol’s base price is Rs 167.51 per liter, excluding taxes and additional charges.
Taxes on Petrol, and Diesel
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Exchange Rate Adjustment: Rs 7 per liter on diesel, Rs 1.22 per liter on petrol
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Inland Freight Equalization Margin: Rs 4 per liter on diesel, Rs 2 per liter on petrol
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Petroleum Levy: Rs 74.51 per liter on diesel, Rs 75.52 per liter on petrol
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Environmental Support Levy: Rs 2.5 per liter on both diesel and petrol
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Dealer Commission: Rs 8.64 per liter
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Oil Marketing Company (OMC) Margin: Rs 7.87 per liter
These additional costs are included in the final retail prices, which are ultimately passed on to consumers. Masses question the timing and justification of these price hikes, particularly in light of falling international crude oil prices and government claims of economic progress.
People alike called for transparency and consistency in fuel pricing, warning that the current surge will add further inflationary pressure on households and businesses across the country.
