What will be new petrol, diesel prices in Pakistan for next fortnight?
- Web Desk
- Dec 15, 2023
WEB DESK: In a significant development, the per-litre price of petrol in Pakistan is poised to undergo a noteworthy reduction, with expectations suggesting a decrease of Rs13.10.
Simultaneously, high-speed diesel (HSD) is projected to experience a substantial cut of Rs13.66 per litre in the final fortnight of December 2023.
Reports indicate that the prices of petroleum products are slated for a considerable decrease throughout the remaining days of December.
If these projections materialise, the petrol price in Pakistan is slated to decrease from its current Rs281.34 per litre to Rs268.24 per litre, marking a significant reduction of Rs13.10 per litre.
Similarly, the diesel price is expected to see a decline of Rs13.66 per litre, dropping from Rs289.71 per litre to Rs276.05 per litre.
Additionally, the anticipated decrease in the price of kerosene oil stands at Rs8.36 per litre, transitioning from Rs201.16 per litre to Rs192.80 per litre.
Likewise, the price of light diesel oil (LDO) is projected to decrease by Rs10.23 per litre, from Rs175.93 per litre to Rs165.70 per litre.
It is crucial to note that these price adjustments are computed based on existing government taxes and exclude exchange rate adjustments.
However, it’s important to highlight that these figures are speculative at this point, pending the official announcement by the government, expected in less than two hours before 11:59 pm tonight.
The latest petrol price in Pakistan will be implemented after 12 am.
Furthermore, it is pertinent to recognise that the government currently imposes a petroleum levy (PL) of Rs60 per litre on petrol and diesel as of December 1, 2023.
Additionally, the Inland Freight Equalisation Margin (IFEM) stands at Rs7.71 per litre for petrol and Rs0.60 per litre for diesel.
Dealers’ margin on petrol and diesel is presently set at Rs8.65 per litre, while the margin for oil marketing companies is established at Rs8.25 per litre, effective December 1, 2023.
On December 1, the government maintained the petrol price at Rs281.34 per litre, concurrently reducing the price of HSD by Rs7 per litre and witnessing a decrease of Rs3.82 per litre in the price of kerosene oil.
Read next: PSX ends week in green