If the government agrees to keep oil prices at their current levels, the Price Differential Claim (PDC) of Oil Marketing Companies and Refineries is expected to reach Rs. 36.07 per liter for High-Speed Diesel (HSD) and Rs. 19.64 per liter for petrol over the next two weeks.
According to calculations on the local projected oil prices for the first fortnight of April available on a blog website, the ex-depot price of petrol is projected to reach Rs. 169.50 per liter during the first fortnight of April (1 to 15 April) compared to the current fortnight’s ex-depot price of Rs. 149.86 per liter (16 to 31 March).
Similarly, the ex-depot price of HSD is expected to reach Rs. 180.22 per liter during the following fortnight beginning on 1 April, up from Rs 144.15 per liter during the previous fortnight.
According to the calculations, the next predicted PDC on the OMCs level for petrol will be Rs. 19.64 per liter and Rs. 36.07 per liter for HSD. The forecast is based on Platts oil prices for the last ten days (14 to 25 March).
According to the records, the predicted PDC on kerosene oil for the next fortnight is Rs. 30.78 per liter, and Rs. 28.53 per liter on Light Diesel Oil (LDO).
The rise in the PDC can be ascribed to increased international oil prices, which hit more than $120 per barrel on March 25.
To read our blog on “ECC has approved redrafting in premium on diesel and petrol imports,” click here.