Despite a significant drop in global petroleum prices, the federal government has increased the petroleum levy on petrol by Rs. 10 per liter, denying local consumers the benefit.

According to sources, a notification has been issued after federal approval, raising the petroleum levy from Rs60 to Rs70 per liter, effective March 16 (today).

Officials revealed that while international prices allowed a reduction of up to Rs15 per liter, the increased levy has prevented direct relief for the public. Sources added that the savings from lower global oil prices are being redirected to reduce electricity tariffs.

Last night, Prime Minister Shehbaz Sharif announced that petroleum product prices would remain unchanged, while electricity rates would see a significant reduction. He also mentioned that the government is working on a comprehensive relief package, to be unveiled in the coming weeks.