Petroleum levy hits Rs4,400bn over four fiscal years

Official figures show levy collections rose each year since FY23, while a cut has been put off until the next federal budget.

About Rs4,400 billion was collected through the petroleum levy over four fiscal years, Rs227 billion above the cumulative target.

Yearly take rose from Rs542bn in FY2022-23 to Rs1,567bn in FY2025-26, which beat that year’s goal by Rs99bn.

This year’s petroleum levy target is Rs1,676bn; five-year totals could near Rs6,076bn if met.

Combined taxes, duties and margins, including the levy, are Rs110.78/litre on petrol and Rs107.55/litre on diesel.

A decision to cut the petroleum levy has been deferred until the next federal budget.

Read the full story