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ISLAMABAD: In a potential blow to consumers, there is a possibility of a big increase in the prices of petroleum products in the country.
Sources state that there is a possibility of an increase in the price of petrol by 9 rupees 50 paisa, after the possible increase, the new price will increase from 279 rupees 75 paisa to 289 rupees 25 paisa.
The price of diesel will reach Rs 285.56 with an increase of Rs 0.86, sources
There have also been reports that the government plans to increase the petroleum levy from Rs 60 to Rs 100. The Petroleum Development Levy has seen several adjustments in recent years with a significant increase during FY 2023.
Read More: Govt to consider increasing GST on petroleum on IMF demand
Petroleum levy on petrol was initially fixed at Rs 20 per liter in July 2022, after which it was increased to Rs 50 per liter in November 2022 and further increased to Rs 60 per liter by September 2023.
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