Former Finance Minister Miftah Ismail took to X to explain how the federal government turned expected fuel price relief into a sharp petrol increase that consumers will bear for another week.
According to his calculations, the ex-refinery price of imported petrol declined by Rs. 3.14 per litre. However, instead of passing that reduction on to the public, the government increased freight charges and raised the petroleum levy by Rs. 27 per litre.
Diesel Prices Also Rose Despite Lower Base Cost
Miftah said diesel followed a similar trend. The ex-refinery price of diesel reportedly fell by Rs. 3.44 per litre, but freight charges were sharply increased, with some estimates showing an added Rs. 37 per litre.
As a result, consumers still faced a net increase of around Rs. 27 per litre in diesel prices.
Consumers Missed Global Fuel Relief
He argued that despite lower international fuel costs, policy changes in taxation and freight charges completely wiped out any possible relief for consumers.
Miftah also said the current pricing formula remains outdated and no longer reflects market realities.
Pricing Structure Under Criticism
According to him, the existing mechanism artificially increases fuel costs and prevents global price reductions from reaching local consumers, adding further pressure on households and businesses.
