Petroleum levy collection reaches Rs808 billion in 9 months

ISLAMABAD: The federal government collected a whopping Rs808 billion in petroleum levy during the first nine months of 2024, ARY News cited sources.

The collection was made on petrol and high-speed diesel, with the government currently charging Rs60 per litre on petrol and diesel both, the sources added.

The breakdown of the collection showed that Rs246 billion was collected during the first quarter (January-March), followed by Rs299 billion in the second quarter (April-June) and Rs261 billion in the third quarter (July-September).

The revenue generated from the petroleum levy remains with the federal government, while the Federal Board of Revenue (FBR) transfers its share to the provinces under the National Finance Commission (NFC) Award.

The petroleum levy collection is expected to increase further by the end of the year, as data for October-December is yet to be released.

Read More: Govt collects ‘historic’ petroleum levy in FY 2023-24

Earlier, the federal government announced new petrol and diesel prices effective from December 16 to 31

As per details, petrol prices remain stable at Rs. 252.10 per liter. High-speed diesel prices have decreased by Rs. 3.05 per litre, with the new price set at Rs. 255.38 per litre.

In addition, the price of kerosene oil has decreased by Rs. 3.32 per litre, with the new price set at Rs. 161.66 per litre. Light diesel oil prices have also decreased by Rs. 2.78 per litre, with the new price set at Rs. 148.95 per litre.