THE price of petroleum products was reduced recently keeping in view the price of crude oil in the international market, government taxes and the value of the rupee versus dollar.

However the price of hi-octane fuel was not reduced by the same ratio. While the price of crude oil in the international market has fallen by more than 50 per cent, the oil marketing companies have not reduced the price by the same proportion. Although the price of petrol and diesel was reduced by Rs20 per litre during the month, the price of hi-octane saw no such reduction.

I inquired from the petrol pump in Islamabad’s sector F-11/1 where I get my fuel the reason, and the worker told me that the government had increased the tax on hi-octane. As such the price had not been reduced.

If this is correct, then perhaps the Oil and Gas Regulatory Authority should explain as to how much tax has been increased to make the price of hi-octane Rs157 per litre.

I appeal to the prime minister to ensure that price of hi-octane is also reduced by the same proportion.

Maqbool Nisar Ali Beg
Islamabad

Published in Dawn, April 24th, 2020