On October 15, the cost of high-speed diesel (HSD), kerosene oil, and light diesel fuel is projected to increase by Rs. 5 to Rs. 12 per litre while the cost of gasoline is likely to lower. Sources assert that only if the government maintains the existing tax rates would this be feasible. Based on current prices, the ex-depot price of petrol will probably lower by 10.75 rupees to about 214 rupees per litre.
HSD, on the other hand, will cost about Rs. 247 more per litre after an increase of Rs. 11.50. Similar to this, the cost of kerosene and light diesel oil (LDO) would increase by Rs. 4.50 and Rs. 7.50 a litre, respectively, to about Rs. 196 and Rs. 194.
The article mentions a recent decline in benchmark global oil prices. However, because of limited refining capacity, HSD margins and premiums have increased, increasing the cost of HSD imports.
Additionally, due to significant oil exporting nations cutting back on output, crude oil prices have started to rise once more this week. Starting next month, these reductions will result in price rises for the next two weeks.
The government may sustain the price of gasoline and high-speed rail by proportionally adjusting the petroleum development levy, according to Finance Minister Ishaq Dar‘s confidence in Washington (PDL). The PDL for gasoline would then start to rise toward the ceiling established with the IMF.
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