Govt Adjusts Petroleum Levy on Petrol and Diesel
The government has revised petroleum development levy rates for petrol and high-speed diesel, making significant changes to fuel taxation structure.
According to official sources, the levy on petrol has been reduced by Rs40.49 per litre, bringing it down from Rs106.74 to Rs66.25 per litre.
In contrast, the levy on high-speed diesel has been increased by Rs19.71 per litre, raising it from Rs53.26 to Rs72.97 per litre.
Key Changes in Fuel Levies
- Petrol levy: Reduced to Rs66.25 per litre
- Diesel levy: Increased to Rs72.97 per litre
- Combined average levy: Now below Rs80 per litre
Officials stated that the adjustment follows the government’s achievement of its petroleum levy collection target for the current fiscal year.
Why the Change Was Made
The petroleum levy remains one of the government’s key sources of non-tax revenue. It plays an important role in meeting fiscal targets and commitments under international financial arrangements.
