KARACHI, April 6, 2025 – The United Business Group (UBG) has strongly urged the government to bring down petroleum prices in Pakistan, aligning them with the recent global decline in crude oil prices.
Zubair Tufail, President of UBG, emphasized that international oil prices have fallen by over 12% in just ten days, yet local consumers continue to face inflated petrol and diesel prices.
Currently, the global crude oil benchmark sits at $61.99, down from $72 a fortnight ago. Despite this sharp drop, the government raised the Petroleum Development Levy (PDL) on both petrol and diesel from Rs60 to Rs70 per litre. While authorities claim this increase is meant to support electricity subsidies, UBG believes that oil consumers will still bear the brunt, contributing approximately Rs58 billion more through inflated prices.
Zubair Tufail praised the recent reduction in electricity tariffs but stressed that a corresponding decrease in fuel prices is crucial. He stated that lowering petroleum prices would ease inflationary pressure, reduce transportation and production costs, and provide much-needed relief to export industries. “Global oil prices are at their lowest, yet domestic fuel rates remain unjustifiably high,” he said, reiterating UBG’s call for immediate action.
Echoing these concerns, Rafiq Khaskheli, Vice Chairman of the Pasban Democratic Party, criticized the government’s failure to pass on global benefits to the public. He demanded fair taxation and an end to profiteering on petroleum products, labeling it as unlawful and exploitative.
The public, already burdened by high inflation during Ramadan and Eid, continues to suffer. Khaskheli pointed out that despite reduced electricity rates, ongoing taxes and hidden levies prevent any real relief for citizens.
International oil markets have seen a significant drop in prices, with WTI crude falling by $4.15 to $62.80 per barrel, and Brent crude down by $4.05 to $66.09. Analysts attribute this decline to increased production by OPEC and new tariff policies by the U.S.
At home, petrol currently retails at Rs254.63 per litre. Citizens are effectively paying Rs255, with the extra 37 paisa pocketed by petrol pump owners—a practice being slammed as everyday corruption.
UBG insists that immediate reduction in petroleum prices is not only fair but essential for national economic stability and the prosperity of the common man.