Govt Proposes Increase in Petroleum Levy to Rs. 80 Per Liter

The federal government has proposed an increase in the maximum petroleum levy on petrol and high-speed diesel to Rs. 80 per liter. According to the Finance Bill 2024, the maximum petroleum levy rate will now be Rs. 80 per liter, an increase of Rs. 20 per liter over the previous rate of Rs. 60 on both petrol and high-speed diesel. The levy on Light Diesel Oil (LDO), High octane blending component (HOBC), and E-10 gasoline will also increase by Rs. 25 per liter to Rs. 75 per liter. It is pertinent to mention here that currently the government is charging Rs. 60 per liter petroleum levy on petrol and high-speed diesel. For live updates on everything about the Federal Budget, visit this link.