Climate Levy raised to Rs5 per litre; Petroleum Levy cut to Rs64.14 for petrol, Rs77.04 for high-speed diesel
ISLAMABAD:
The federal government on Thursday revised the levy structure on petroleum products at the start of the new financial year, increasing the Climate Support Levy on petrol and high-speed diesel (HSD) while reducing the Petroleum Levy by an equivalent amount, leaving fuel prices unchanged.
According to a notification issued by the Ministry of Energy dated July 1, the Climate Support Levy on motor gasoline (petrol) and HSD has been increased by Rs2.50 per litre to Rs5.00 per litre.
At the same time, the Petroleum Levy on petrol sold through retail outlets has been reduced by Rs2.50 per litre to Rs64.14 per litre, while the levy on high-speed diesel has been reduced by Rs2.50 per litre to Rs77.04 per litre.
The adjustment was made by reducing the Petroleum Levy and increasing the Climate Support Levy by the same amount, resulting in no change in fuel prices. The notification stated that it will come into force on July 2 and will remain in effect until further orders.
On Saturday, the government increased the petroleum levy on petrol and HSD despite maintaining fuel prices at existing levels for another week instead of passing on the benefit of declining international oil prices to consumers.
According to figures released by the Petroleum Division, the petroleum levy on HSD increased by Rs6.57 per litre, taking it to Rs79.54 per litre. The government also increased the petroleum levy on petrol by 39 paisa per litre, raising it to Rs66.64 per litre.
However, the levy on kerosene oil remains unchanged at Rs20.36 per litre. The increase in the levy comes a day after the government decided to keep petrol and HSD prices unchanged for one week despite a decline in international oil prices.
At the same time, the government reduced the price of kerosene oil by Rs6.85 per litre.
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On Friday, the government kept the prices of petrol and high-speed diesel unchanged from the current level for the next week. According to a press release from the Petroleum Division, the petrol price remains Rs299.5 per litre while HSD is Rs311.47.
Earlier on June 19, the government announced a reduction in petroleum prices, saying the price of petrol had been cut by Rs74 per litre, while HSD was reduced by Rs67 per litre.
The premier had said the government was immediately passing on the benefit of improved regional economic conditions and lower global oil prices to the public, adding that, “Whatever promise was made to the nation, Alhamdulillah, we are about to fulfil it.”
On June 12, the government cut the price of petrol by Rs4 per litre and that of high-speed diesel by Rs2 per litre for the next week.
Earlier on June 5, the government reduced the price of petrol by Rs4 per litre. Before that, the government reduced the prices of petrol and diesel by Rs22 per litre, describing the move as an “Eid gift” for the public.
