ISLAMABAD – Petrol price has been jacked up to Rs400 per litre as the government announced sweeping change in petroleum pricing and tax policy, increasing fuel prices while reshuffling the petroleum levy structure.
The fresh levy of Rs 28.69 per litre has been imposed on high-speed diesel, a fuel previously not subject to any levy at all. The sudden introduction of tax on diesel is expected to significantly impact transporters, farmers, and goods movement across the country.
Petrol Levy
| Fuel Type | Previous Levy | New Levy | Change |
|---|---|---|---|
| Petrol | 107.38 | 103.50 | ↓ 3.88 |
| High-Speed Diesel | — | 28.69 | ↑ 28.69 |
At the same time, the government slashed petroleum levy on petrol by Rs 3.88 per litre. The new petrol levy has now been set at Rs 103.50 per litre, down from Rs 107.38 per litre earlier. Officials confirmed that the revised levy structure will come into effect from May 1.
However, the relief from the levy cut on petrol has been overshadowed by a sharp increase in fuel prices. The government has raised petrol prices by Rs 6.51 per litre, pushing the new rate to Rs 399.86 per litre. Diesel prices have seen an even steeper jump, increasing by Rs 19.39 per litre, with the new price now fixed at Rs 399.58 per litre.
The simultaneous hike in petroleum prices and restructuring of levies is expected to have a direct inflationary impact, increasing transportation costs and potentially driving up prices of essential goods nationwide.
Panic buying sweeps Pakistan as Petrol Prices set to jump from May 1
