Federal Budget 2024-25 33% Increase in Petrol and Diesel Levy Proposed

The federal government will revise the petrol prices on June 15 with new prices coming into effect from June 16.

Since April 16, the PML-N government has decreased petrol prices by Rs24 per litre and diesel by Rs20 per litre.

From June 16, petrol prices are anticipated to drop by Rs9 and HSD by Rs4.

A hike in levy on petrol diesel proposed

The PML-N-led federal government proposed a significant increase in the petroleum levy on petroleum products.

Presenting the federal budget for the fiscal year 2024-25, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said that the government proposed an increase of 33 per cent on petrol and diesel.

Finance Minister Aurangzeb unveils federal budget for FY 2023-24

Similarly, the proposal sought a 50 percent increase in the levy on high-octane, light diesel, and ethanol has been increased. After approval of the proposal, Rs 50 would be charged per litre of high-octane, light diesel, and ethanol.