ISLAMABAD – The federal government has increased the petroleum levy on petrol by Rs9.64 per litre, taking the levy back to Rs80 per litre from the previous rate of Rs70.36 per litre.
Reports said the higher levy is expected to add to the financial burden on consumers as it directly affects the overall cost of petroleum products.
New Petrol Prices in Pakistan
The increase comes after the government announced a fresh revision in fuel prices. Petrol has become costlier by Rs13.18 per litre, raising its new price to Rs310.71 per litre.
Diesel prices have also been increased by Rs13.80 per litre, bringing the new rate to Rs323.30 per litre.
Kerosene Oil Price Goes Up
In addition, the government has raised the price of kerosene oil by Rs11.19 per litre. Under the latest notification, kerosene will now be sold at Rs242.33 per litre, compared with the previous price of Rs231.14 per litre.
The latest adjustments mean consumers using petrol, diesel and kerosene will all face higher fuel costs.
Meanwhile, the International Energy Agency (IEA) has warned that any renewed escalation in tensions between the United States and Iran could significantly alter expectations for the global oil market next year.
In its latest assessment, the agency said projections of a sizeable oil supply surplus could come under pressure if conflict between the two countries intensifies again. Although global oil production increased in June after shipping resumed through the Strait of Hormuz, overall supply has yet to return to the levels seen before the recent conflict.
The reopening of the strategic waterway followed a ceasefire agreement between Washington and Tehran, allowing crude exports to recover after severe disruptions during the crisis. At the height of the confrontation, the temporary closure of the Strait of Hormuz removed an estimated 14 million barrels of oil per day from global markets, creating one of the most significant supply shocks in recent history.
The IEA said future market conditions will largely depend on regional stability and the uninterrupted flow of energy supplies.
