Govt reduces levy on petrol, high speed diesel  

The government has further reduced the levy on petrol and high-speed diesel, reported 24 News HD TV Channel.

The reduction in the petrol levy will be implanted from today (Tuesday).

According to sources, the government has made a reduction of Re1.65 in the petrol levy. Now the petrol levy will be cut from Rs6.39 to Rs4.74 per litre.

On high-speed diesel, the levy is down by Rs2.86/litre and the overall reduction will be from Rs11.72 to 8.86/litre.

However, there is no levy on kerosene oil and light diesel, sources said and added that sales tax on petrol will remain unchanged at Rs15.77 per litre and on high-speed diesel, it will remain unaffected at Rs16.09/litre.

The sources said on petrol, Rs3.91/litre dealer margin is being obtained while Rs3.69/litre is being charged under the head of Inland Freight Equalization Margin (IFEM).

The sources also revealed that RS2.97/litre is also being charged as distributor margin on petrol.

On high-speed diesel, 97paisa/litre is being charged as IFEM, the sources said and added that Rs2.97/litre is being obtained as distributor margin