Petrol Prices likely to up again

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Amid the nationwide protests in wake of an increase in petrol prices, the Finance Minister hinted at an increase in the petroleum development levy on oil products.

Shaukat Tarin, speaking on primetime show on Saturday, said the global lender has asked Pakistani officials to increase the petroleum development levy saying it will depend on the global prices of petroleum products.

However, he mentioned that if the global price of oil goes down, it will be easy for Pakistan to increase the petroleum development levy.

Commenting on the record-high prices, he said the recent surge came in wake of rapid changes in the international market, where the prices touched their peak in recent times.

 

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