• Govt increased PDL on high-speed diesel by Rs5 per lite
• The PDL on kerosene and light diesel has been reduced
• PDL on petrol remains the same while sales tax is 0%

ISLAMABAD: The federal government has raised the Petroleum Development Levy (PDL) on high-speed diesel (HSD) by Rs5 per litre, BOL News reported.

The petroleum levy has been increased from Rs35 per litre to Rs40 per litre effective from January 29, while the levy on petrol remains the same.

Meanwhile, the government has reduced PDL on kerosene oil by Rs5.90 per litre, while the levy on light speed diesel (LSD) has been increased by Rs3.20 per litre. Finance Ministry sources said the sales taxes on petroleum products is zero percent.

This comes after the federal government increased the price of petrol and diesel by a staggering Rs35 per litre, amid widespread reports a fuel crisis in the country.

Finance Minister Senator Ishaq Dar announced that increased in the prices of Petrol and High-Speed Diesel (HSD). The prices of kerosene oil and light diesel have been increased by Rs18 per litre.

He said that rumours were circulating on social media regarding an increase of 80 rupees per litre is in the price of petrol which lead to artificial shortage in the market. Thus, he said keeping in mind the market situation, the announcement to raise petroleum prices was necessary.

He said that the government had to take these measures due to the devaluation of the rupee and the 11 percent increase in oil prices in the international market.

The minister said that currently there is plenty of petrol in the country and the price hike will end the artificial scarcity of petroleum.

He said that new price of petrol in the country will be Rs249.80, high-speed diesel Rs262.80, kerosene Rs187 and light diesel Rs189.83 per litre.

He said that the government did not increase the price of oil in the last four months despite the fluctuations in the oil prices in the world market.

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