Govt increases petrol price by Rs4.8 per litre
Business
The high-speed diesel witnessed a rise of Rs7.95 per litre
ISLAMABAD (Dunya News) - The government on Sunday announced massive hike in the petroleum prices just days after the federal budget.
According to a notification issued by the Ministry of Finance, the price of petrol has been increased by Rs4.80 per litre, while the high-speed diesel witnessed a rise of Rs7.95 per litre.
Following the increase, the new price of petrol stands at Rs258.43 per litre, and high-speed diesel at Rs262.59 per litre.
According to the finance ministry, the revised prices will take effect from midnight.
Also Read: Govt increases petrol price by Re1 per litre
Earlier, the federal government imposed Rs2.5 carbon levy on petroleum products and furnace oil in the federal budget for 2025-26.
According to the finance ministry, a decision has been made to impose a carbon levy of Rs 2.5 per litre on petrol, high-speed diesel, and furnace oil. In 2026-27, the carbon levy rate will be increased to Rs5 per litre.
Sources in the finance ministry said that the carbon levy is being imposed as per IMF demands.
The estimated revenue from the carbon levy in the upcoming fiscal year is Rs45 billion.
