The government has increased the Petroleum Levy (PL) on petrol by Rs14.84 to Rs47.26 per litre, while decreasing it on diesel, with immediate effect from October 16, 2022, maintaining the prices at Rs224.80 and Rs235.30 per litre, respectively. From October 1, 2022, the PL for petrol was Rs32.42.
The rise in the petroleum levy on Mogas was enforced in response to the IMF’s concerns after the finance ministry lowered the levy on petrol by Rs5 to Rs32.42 per litre on October 1, 2022, from Rs37.42.
According to Geo, Pakistan has to raise Rs850 billion in income during the current fiscal year by increasing the Petroleum Levy to Rs50 per litre on petrol and diesel.
However, it has lowered the diesel levy by Rs5.44 to Rs7.14 per litre beginning October 16, 2022. From October 1, 2022, the petroleum levy on diesel was Rs12.58 per litre.
Currently, the petroleum duty on HOBC is Rs30 per litre, kerosene oil is Rs8.90 per litre, light diesel oil is Rs1.59, and E-10 gasoline is Rs23.21 per litre.
The inland freight equalisation margin (IFEM) on gasoline was cut by Re0.52 to Rs2 per litre from Rs2.53.
The district margin, which includes the extra margin on petrol, is Rs3.68 per litre, while the dealer margin is Rs7 per litre.
IFEM on diesel has risen by Re0.07 per litre to Rs1.83 from Rs1.76 per litre. The dealer margin on diesel is similarly Rs7 per litre, while the district margin, including extra margin, is Rs3.68 per litre.
