Petroleum Division officials have explained the recent rise in Fuel prices, linking the increase mainly to a Rs. 117 per litre petroleum levy. The clarification was given during a Senate Standing Committee on Petroleum meeting.
The meeting was attended by Petroleum Minister Ali Pervaiz Malik and senior officials from the Petroleum Division. They briefed members on Fuel pricing, stock levels, and supply conditions after the latest price increase.
Officials stated that the sharp rise in Fuel costs is not only due to policy decisions. They said international market changes also played a major role in the increase.
During the session, lawmakers raised concerns over transparency in Fuel pricing. Senator Saifullah Abro demanded a detailed breakdown of taxes included in Fuel prices. He also questioned how final retail prices are calculated.
Petroleum Division representatives said the Rs. 117 per litre levy is the main reason behind higher Fuel prices. They explained that this levy directly impacts the final consumer cost.
Abro also questioned the government about Fuel stock levels as of February 28. He raised concerns after a sudden Rs. 55 per litre increase in petrol and diesel prices.
Officials responded that international Fuel prices had increased after March 1. They said diesel reached $285 per barrel, while petrol rose to $150 per barrel.
The Petroleum Minister added that Pakistan currently holds 30 days of petrol stock. The country also maintains 27 days of diesel reserves to ensure supply stability.
He explained that Pakistan has to purchase Fuel at higher global rates. This is necessary to maintain supply and avoid shortages in the local market.
Officials also confirmed that Pakistan does not maintain strategic Fuel reserves. However, efforts are being made to ensure continuous availability.
The minister said complete data from all oil companies will be shared. He also confirmed that the FIA is reviewing Fuel pricing and supply records.
Committee member Aamir Chishti called for a full audit of oil marketing companies. The minister responded that an audit of all 42 companies will be conducted.
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Authorities said these steps aim to improve transparency in Fuel pricing. The government also plans to monitor the Fuel sector more closely in the coming months.
