- Web Desk
- 56 Minutes ago
Pakistanis may get no relief as govt likely to increase petrol price
- Web Desk
- Nov 14, 2023
WEB DESK: In the upcoming adjustments to petroleum product prices anticipated in the second half of November, a dynamic scenario is expected.
Predictions indicate a potential increase of Rs3.18 per litre in petrol prices, reaching Rs286.56 per litre from the current Rs283.38.
On the flip side, high-speed diesel (HSD) is poised for a substantial reduction, decreasing by Rs8.30 per litre to Rs294.88 from the existing Rs303.18.
This mixed trend extends to kerosene oil, projected to undergo a reduction to Rs205.42 per litre from Rs211.03, reflecting a decrease of Rs5.61 per litre.
Similarly, light diesel oil (LDO) is anticipated to witness a notable cut of Rs8.33 per litre, bringing its price down to Rs181.13 per litre from Rs189.46.
Read more: Global oil prices rise
The determinants of these prices include current government taxes and adjustments based on the US dollar exchange rate.
Notably, sources suggest the possibility of the government maintaining the petrol price due to outstanding forex adjustments, while there is anticipation of a substantial drop of Rs10 per litre in the HSD rate.
As of November 1, the government has implemented a petroleum levy of Rs60 per litre on both petrol and diesel.