NPA reverses suspension of Price Stabilization and Recovery Levy
The National Petroleum Authority (NPA) has reversed the suspension of the Price Stabilization and Recovery Levy on the price build-up of petroleum products.
The reversal of the suspension of the PSRL follows a letter dated March 28, 2024, in which the NPA announced the suspension of the Price Stabilization and Recovery Levy (PSRL) on price build-up on petroleum products.
According to the NPA, the directive from the Finance Ministry and the Energy Ministry to suspend the PSRL was to cushion the impact of rising global fuel prices on consumers.
It is unclear what influenced the National Petroleum Authority to revise the suspension of the Price Stabilization and Recovery Levy.
The reversal of the suspension of the PSRL takes effect from today, April 4, 2024.
Read the details of the statement below:
