In line with IMF requirements, the interim government in Islamabad has raised the levy rates on petrol and diesel. The development levy on petrol has been augmented to 60 rupees per liter, and the petroleum levy on diesel has been elevated to 50 rupees per liter.
The public is expected to contribute 869 billion rupees through petroleum levy this year. The surge in petroleum levy is cited as the reason behind the hike in petroleum product prices.
Previously, the government had already raised prices: petrol by Rs 18.44 per liter, and high-speed diesel by Rs 18.44 per liter. These new prices, effective immediately, will endure for the next two weeks.
Consequently, the cost per liter of petrol has surged from Rs 290.45 to Rs 305.36, while high-speed diesel has risen from Rs 293.40 per liter to Rs 311.84 per liter.