After the US-Iran war, what is the real reason for the hike in petrol prices? Is it due to a price hike in the global market or taxes and levies the government is receiving from the citizens?
Senior journalist Maria Memon revealed the truth during her analysis while speaking on a private media channel.
Commenting on the recent increase in petroleum prices, journalist Maria Memon said that while tensions between Iran and the United States caused fluctuations in global oil prices, the financial burden on consumers in Pakistan is not solely due to international market trends. She said high petroleum levy and other taxes are also a major factor behind the increase.
She noted that the government has once again raised petrol and diesel prices, with the latest hike renewing debate over the petroleum levy.
Citing former finance minister Miftah Ismail, Memon said the government is currently collecting around Rs80 per litre in petroleum levy on petrol, along with more than Rs20 per litre in customs duty.
This means that out of the current petrol price of around Rs315 per litre, more than Rs100 goes to the government in the form of levies and duties. According to Ismail, it is therefore inaccurate to attribute rising fuel prices solely to movements in the global oil market.
Memon also referred to a report by journalist Khaleeq Kiani, which stated that petrol was priced at Rs267 per litre at the beginning of March this year and later climbed to a peak of Rs458.41 per litre. During the same period, diesel prices rose from Rs 281 per litre to a record Rs 520.35 per litre.
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