Government cuts petroleum levy by Rs1.65 per litre, petrol levy now Rs63.64

Islamabad: The federal government has further reduced the petroleum levy, bringing the levy on petrol down to Rs63.64 per litre.

The effects of the petroleum levy reduction have begun to show after the federal government changed the formula for determining petrol prices. The government has cut the levy on petrol by a further Rs1.65 per litre, so the levy burden on petrol for citizens is now Rs63.64 per litre.

It may be noted that petroleum product prices have been falling in stages for the past week, and petrol has so far been made cheaper by about Rs35 within that period.