Reacting to the increase in petroleum product prices, ANP President Senator Aimal Wali Khan stated today on the social media platform X that Pakistan is facing artificial inflation despite the global rise in oil prices caused by tensions between the US and Iran. Although international oil rates have risen, the local situation in Pakistan has been complicated by the smuggling of oil from Iran, where prices are significantly lower.
The government has transferred the responsibility of setting oil prices to the Oil and Gas Regulatory Authority (OGRA), allowing for daily adjustments. This move has been criticised as a way for the government to distance itself from accountability regarding fluctuating prices.
There is growing demand for the abolition of levies on petroleum products, which many believe would alleviate the financial burden on consumers. The debate continues as stakeholders call for measures to address the economic implications of both international and domestic oil price dynamics.