The federal government has proposed a hike in the maximum petroleum levy imposed on petrol and high-speed diesel to Rs. 80 per liter.
As per the Finance Bill 2024, the ceiling for the petroleum levy rate will be increased to Rs. 80 per liter, marking a Rs. 20 per liter rise from the previous rate of Rs. 60 for both petrol and high-speed diesel.
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Additionally, the levy on Light Diesel Oil (LDO), High Octane Blending Component (HOBC), and E-10 gasoline will also see an increase of Rs. 25 per liter, bringing the new rate to Rs. 75 per liter.
Currently, the government is levying Rs. 60 per liter as the petroleum levy on petrol and high-speed diesel.
