ISLAMABAD: The federal government has decided to keep petroleum prices unchanged for the upcoming week starting June 27, maintaining the price of petrol at Rs 299.50 per litre and High-Speed Diesel (HSD) at Rs 311.47 per litre.
The decision comes despite global crude oil prices returning to pre-conflict levels of around $70 per barrel, leaving Pakistani consumers waiting for relief from significantly higher domestic fuel costs.
Oil Companies Advisory Council (OCAC) protested against the abrupt reduction in oil prices last week. They claimed that the abrupt price reduction during the previous weekly review reportedly wiped out roughly Rs 104 billion in working capital and shareholder value for Oil Marketing Companies and refineries.
READ MORE: Petrol price cut by Rs74, HSD’s by Rs67
In that previous cycle, the government had sharply cut the price of petrol by Rs 74 and HSD by Rs 67 per litre. To facilitate this, the petroleum levy on petrol was slashed to Rs 66.25 per litre (down from Rs 106.74), while the levy on HSD was raised to Rs 72.97 per litre (up from Rs 53.26).
The government continues to rely heavily on fuel taxation for revenue. Budget targets show authorities aim to collect a staggering Rs 1.727 trillion through the Petroleum Levy in the upcoming fiscal year starting July 1.
Copyright Business Recorder, 2026
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