The government is expected to boost petrol prices by Rs. 15 per litre in the second half of April 2023, while high-speed diesel (HSD) prices may rise by only 30 paisa.
According to oil industry sources, the ex-depot price of petrol will rise by Rs. 14.77 per liter, HSD will rise by Rs. 0.30 per liter, kerosene oil will rise by Rs. 8.96 per liter and light diesel oil (LDO) will rise by Rs. 3.36 per liter in the second fortnight of April.
According to sources, the predicted price increase is based on the current rate of petroleum levy and general sales tax (GST).
Petrol Price After Rs. 15/Liter Increase
If the rate modification is approved by the government, the price of fuel will climb to Rs. 286.77 per liter from the current Rs. 272 per liter.
Similarly, the ex-depot price of HSD will be Rs. 293.30 per liter, while the price of kerosene oil will be Rs. 189.25 per liter. In addition, the ex-depot price of LDO will rise to Rs. 286.93 per liter.
According to reports, the current ex-refinery price of gasoline is Rs. 207.16/liter, with a Rs. 14.35 variance. The next predicted refinery price is Rs. 221.51/liter.
Similarly, the ex-refinery price of HSD is Rs. 233.40/liter, while the next predicted refinery price is Rs. 234.26/liter, a Rs. 0.86 difference.
Similarly, the ex-refinery price of kerosene oil is Rs. 169.05/liter, with a Rs. 8.96 increase projected for the second fortnight of April.
Furthermore, the current ex-refinery price of LDO is Rs. 154.30/liter, with an increase of Rs. 7.80 projected for the next refinery price of Rs. 162.10/liter.
On general, petrol is an alternative to compressed natural gas (CNG), which is unavailable on the market due to gas shortages. The closing of CNG stations has increased demand for petrol.
Due to gas constraint, Punjab has been using liquefied natural gas (LNG) in CNG filling stations for the past few years.
Pakistanis are already hurting from increasing inflation, and a hike in the price of petroleum goods will set off another wave of inflation. Transport rates may also rise, causing prices to climb across the country.
Petrol is utilized in motorcycles and automobiles, whereas diesel is used in heavy transportation and agriculture. Kerosene oil is used for cooking, particularly in rural places where liquefied petroleum gas (LPG) is in short supply. LDO is used in manufacturing.
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