ISLAMABAD, Pakistan: The federal government raised the Climate Support Levy on petrol and diesel to Rs5 per litre but cut the Petroleum Levy by the same amount to keep retail fuel prices unchanged.
The Petroleum Division issued notifications late Wednesday, confirming that the revised levy structure took effect from July 2.
The Climate Support Levy on petrol and high-speed diesel rose by Rs2.50 per litre, from Rs2.50 to Rs5 per litre. The same increase also applied to the high-octane blending component.
To offset the change, the federal government reduced the Petroleum Levy on petrol and high-speed diesel by Rs2.50 per litre.
Read: Petrol Diesel Prices Unchanged, Kerosene Cut Rs6.85
The Petroleum Levy on high-octane blending component also fell by Rs 2.50 per litre. The simultaneous increase and reduction left current retail prices unchanged.
The latest notifications followed the federal government’s decision last week to keep petrol and diesel prices at Rs299.50 and Rs311.47 per litre, respectively.
On June 19, Prime Minister Shehbaz Sharif announced cuts of Rs74 per litre in petrol and Rs67 per litre in diesel after a decline in international crude oil prices. Kerosene oil also fell by Rs48.29 per litre to Rs233.90 at that time.
The government has since recalibrated fuel levies while keeping retail prices largely steady.
