The Ministry of Finance has issued a notification confirming the revised rates.

According to the notification:

• The price of petrol has been reduced to Rs252.63 per litre.

• High-speed diesel is now priced at Rs258.64 per litre.

The reduction follows estimates based on falling international oil prices, which had predicted a possible decrease of up to Rs10 per litre.

However, the government has opted for a minimal cut.

Petroleum levy

In contrast to the minor price relief, the government has increased the petroleum levy following a presidential ordinance issued on April 15. The new levy rates are:

• Rs78.02 per litre on petrol (an increase of Rs. 8.02)

• Rs77.01 per litre on high-speed diesel (an increase of Rs. 7.01)

Before this change, the maximum allowable levy was Rs. 70 per litre. The law has now been amended to enable the government to impose levies beyond that threshold.

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