Govt Increases Petroleum Levy on Diesel by Rs. 2.5 Per Liter

The federal government has increased the petroleum development levy on high-speed diesel (HSD) by Rs. 2.50 per liter. The Oil and Gas Regulatory Authority (OGRA) had recommended a slight reduction in the price of high-speed diesel for the next fortnight. However, instead of passing on the relief to the public, the government jacked up the petroleum development levy on HSD by Rs. 2.5 per liter to Rs. 35 per liter. The government has also increased the petroleum development levy on kerosene by Rs. 1.88 per liter. The levy on light diesel oil has also been considerably increased, previously the levy on light diesel oil was Rs. 8.56 per liter which has now been increased to Rs. 30.45 per liter. The government is already charging a levy of Rs. 50 per liter on the price of petrol. It is pertinent to mention here that Finance Minister Ishaq Dar announced earlier on Sunday that there would be no change in the prices of petroleum products for the next fortnight.