Details of sales tax, petroleum levy charged on fuel products released

ISLAMABAD: Finance Ministry has released details of sales tax and petroleum levy charged on fuel products including petrol, diesel, and kerosene oil in the country after the recent hike in the prices, ARY NEWS reported.

According to details shared by the finance division, sales tax on petrol has been reduced to 6.84 percent from 10.54 percent while tax on high-speed diesel declined to 10.32 percent from 11.64 percent.

The sales tax on Kerosene oil and light diesel is being charged at 6.70 percent and 0.20 percent without any amendments recently.

It further shared that the petroleum levy is being charged at 5.62 percent on petrol, 5.14 percent on high-speed diesel, and 2.02 percent on kerosene oil, while no levy is being charged on light diesel.

The federal government on Thursday increased the price of petrol by Rs4 per litre for the first fortnight of October, effective from Friday, according to a notification issued by the Finance Ministry.

The government approved Rs4 per litre increase on petrol and Rs2 per litre in the price of diesel. The price of kerosene oil went up by Rs7.05 while the rate of light diesel was jacked up to Rs8.82 per litre.

Petrol, with the Rs4 increase, will now cost Rs127.30 per litre, whereas high-speed diesel, with an increase of Rs2, will now cost Rs122.04 per litre.

The new prices came into effect from October 01.