Government makes historic reduction in levy on high octane

ISLAMABAD: The government has made a historic reduction in the petroleum levy on high octane, giving great relief to the richest class.

According to the report, the federal government has decided to reduce the petroleum levy on high octane fuel used in expensive and luxury vehicles by more than Rs 214, giving great relief to the rich class.

According to sources, the petroleum levy on high octane was reduced by Rs 214.12 per liter, after which its rate has been fixed at Rs 91.25 per liter.

It should be remembered that a day ago, the government decided to reduce the price of petrol by Rs 74 and the price of diesel by Rs 67.

According to a notification issued by the Petroleum Division, the price of petrol was reduced by Rs 74.28 per liter, after which the new price of one liter of petrol became Rs 299.50.

Similarly, the price of high-speed diesel was reduced by Rs 67.31 per liter, after which the price of diesel came down from Rs 378.78 to Rs 311.47 per liter.

In this regard, Prime Minister Shehbaz Sharif said that the reduction in oil prices in the global market is being passed on to the people, and effective measures will continue to be taken to maintain economic stability and further reduce inflation.