According to energy experts’ predictions, the price of petrol will likely fall by around Rs. 7.50 per litre. Similarly, High-Speed Diesel (HSD) prices may fall by Rs. 12.37 per litre in the second half of December 2022.
According to a report, if the government raises the Petroleum Levy (PL) and settles the arrears of exchange loss on a Free on Board (FOB) basis, there will be no decrease in petroleum product prices next week.
It also forecasted that the price of petrol would fall by Rs. 7.50 per litre, from Rs. 224.80 to Rs. 217.30, and that the price of High-Speed Diesel (HSD) would fall by Rs. 12.37 per litre, from Rs. 235.30 to Rs. 222.93.
According to the report, which cites Petroleum Division sources, the government will likely raise taxes on HSD, Superior Kerosene Oil (SKO), and Light Diesel Oil (LDO). It may also make up for any exchange losses in fuel prices.
According to the report, if the government raises the PL and adjusts the arrears of exchange loss, a decrease in petrol and HSD prices is less likely.
Currently, the government charges Rs. 50 per litre PL for petrol, Rs. 25 for HSD, Rs. 7.01 for SKO, and Rs. 15.39 for LDO. It has assured international lenders that the PL on HSD will be increased to Rs. 50 per litre by April 2023.
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