KARACHI – The federal government’s taxes and the commission of the oil-marketing companies cost petrol consumers about Rs 26 per liter.
The total value of the 17 percent GST (about Rs 13 per liter), Rs 10 Petroleum Development Levy (PDL) and about three percent commission of OMC jack up fuel price by Rs 25 per litre, Kalim A Siddiqui, president of the Petroleum Marketing Business of Byco Petroleum pointed out the facts in a meeting with reporters in Karachi on Thursday.
The actual cost of petrol can be around Rs 46 to Rs 48 per litre if the surcharges are done away with, he said. To a question, Siddiqui said crude oil prices in the international market could surge further, much beyond the present level of $93 per barrel.
In July 2008, crude oil prices hit record high mark of $145 a barrel and then plunged to $34 a barrel by September in the wake of global economic meltdown, he said. Siddiqui said a further increase in world oil prices could create problems for local consumers, the government and other stakeholders.
