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Price Of Petrol In Pakistan Likely To Go Down For Next Two Weeks

ISLAMABAD: The Price of Petrol in Pakistan is likely to comedown from Rs235.98 per litre to Ra226.36 on Friday night for the next fornight.

The latest reports, however, suggest that the price of per litre diesel may slightly go up by Rs3.04 per litre is expect in the price of diesel.

A local private tv while quoting local industrial units reported that the average Platts price of petrol for motor spirit also plunged by Rs9.55 to Rs92.28 from Rs101.83 for the duration from September 1-15 in Pakistan.

The exchange rate, however, remain on the higher side if compared with the exchange rate registered during August 16-31, it report, pointing out that with unchanged customs duty at Rs15.39 per litre, the cost of one-litre petrol in the refinery slid by Rs7.84 per litre to Rs166.76 from Rs174.61 per litre.

The reports say that the ex-refinery price of one-litre petrol, however, has been estimate to decrease by Rs9.62 per litre to Rs173.43 from Rs183.04 per litre.

They say that the average Platts price for diesel, however, tumbled during September 1-15 by Rs6.46 per litre to Rs133.

93 from Rs140.38 per litre, the cost and freight in Dollars went up.

However, for end consumers, the distribution margin for diesel and petrol stands at Rs3.68 per litre and Rs7 per litre. The imposition of petroleum levy on petrol stands at Rs37.50 per litre and on diesel at Rs7.50 per litre.

The Rs4.76 per litre on Price of Petrol is being charged in the shape of IFEM (Inland Freight Equalisation Margin) and Re0.21 on diesel  Pakistan coalition government under the IMF programme is bound to jack up petroleum levy up to Rs50 on both petrol and diesel to generate Rs855 billion in 2022-23.

Similarly, the exchange rate also remained on the higher side at Rs225.63 against the Rs217.81 registered during the August 16-31 period, showing an increase of Rs7.87.

The possible increase in imposition of customs duty on HSD by Rs3.37 to Rs22.11 per litre from Rs18.74 would increase the cost of one-litre diesel in a refinery by Rs1.57 per litre to Rs224.57 from Rs223 per litre.

The ex-refinery price of diesel is estimate to increase by Rs3.04 per litre to Rs231.90 from earlier Rs228.87 per litre after the PSO exchange adjustment.

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