The federal government has increased the petroleum levy by Rs10 per liter, as reported by national media on Sunday.
According to the report, a notification was issued by the Ministry of Finance, stating that the levy on petrol had been raised from Rs60 to Rs70 per liter. Similarly, the levy on diesel was also increased by Rs10 per liter, raising it from Rs60 to Rs70 per liter.
The notification stated that the increase in the petroleum levy will be effective from March 16. It is worth noting that in the federal budget for the fiscal year 2025, the government had announced an increase in the petroleum levy from Rs60 to Rs80 per liter. However, the government decided to impose the additional Rs20 per liter levy in phases.
Globally, petroleum product prices have been declining, and if the current levy increase had not been implemented, the public could have received a relief of up to Rs10 per liter on petrol prices.
Meanwhile, the government has announced that petroleum product prices will remain unchanged for the next 15 days. According to a statement issued by the Prime Minister’s Office, the government is preparing to provide relief to the public by reducing electricity prices while keeping petroleum prices unchanged.
It is worth mentioning that sources had previously indicated that the public could have received significant relief in petroleum product prices due to a decline in crude oil prices in the international market.
