The government, on Sunday approved an increase of Rs200 per litre in the levy on high-octane fuel used in luxury vehicles, as part of efforts to address the fuel crisis amid tensions in the Middle East.
A statement released by the Prime Minister’s Office (PMO) today indicated that Prime Minister Shehbaz Sharif, during a video-link meeting, declared that the existing levy of Rs100 per litre on high-octane fuel would be augmented by an additional Rs200, resulting in a total levy of Rs300 per litre.
This measure is expected to generate savings of Rs9 billion per month, with the funds designated to provide relief to the general populace.
The statement specified that the increase is applicable solely to high-octane fuel used in luxury automobiles amid the ongoing fuel crisis.
However, prices for petrol in standard vehicles, along with fares for public transportation and air travel, will remain unchanged.
Surge in fuel prices causes shift to EVs
As fuel prices rise in Pakistan due to the intensifying conflict in the Middle East, the financial aspects of operating sport utility vehicles (SUVs) are changing, with plug-in hybrids and extended-range electric vehicles (EVs) becoming the more cost-effective options.
Recent official statistics regarding petrol prices in Pakistan reveal that ex-depot motor spirit (petrol) is presently priced at around Rs321 per litre, underscoring the precarious nature of daily transportation in light of the variations in imported fuel costs.
Read more: Rising fuel prices cause shift to EVs amid the Middle East conflict
