Govt targets Rs1.676 trillion petroleum levy collection in FY27

Islamabad is planning to gather Rs1.676 trillion from the petroleum levy in fiscal year 2026-27, according to Profit by Pakistan Today. The budget is built on an average levy of Rs80 per litre for petrol and high-speed diesel (HSD), Energy Minister Ali Pervaiz Malik told the National Assembly in a written reply on Friday. Earlier cuts made during oil market turbulence to shield consumers are now being unwound toward that budgeted rate.

Levy rates moved several times in July and August. Petrol began July at Rs66.64 per litre, dipped to Rs64.14 the next day, then climbed to Rs70.36 on July 4 and reached Rs80 on July 11, where it has stayed. HSD started at Rs79.54, fell to Rs70.82 by July 4, and rose in steps through August to Rs78.28 on August 14 before both fuels reached Rs80 by August 20. The petrol levy is therefore up Rs13.36 per litre from its July 1 level.

The minister said the Petroleum Division has not separately assessed how the levy affects individual consumer groups. Any future cut would depend on fiscal space, revenue needs, commitments with international financial institutions and global oil prices, and the government passes on falls in global oil prices to consumers whenever possible.