According to a study, the price of petrol might reduce over the next two weeks (starting tomorrow) as a result of a drop in its average Platts price.
Details indicate that between September 1 and 15, the Platts price for gasoline decreased by Rs. 9.55/litre, which might lead to a decrease in the price of gasoline of Rs. 9.62/litre. The article also point out that the exchange rate, which has also increased throughout the aforementioned period, will also have an impact on the price of gasoline.
The gasoline refinery rate has also decreased by Rs. 7.84/litre, from Rs. 174.61/litre to Rs. 166.76/litre, thanks to a Rs. 15.39/litre customs fee. As a result, it is anticipated that the price of gasoline at the refinery would drop from Rs. 183.04/litre to Rs. 173.43/litre by Rs. 9.62.
On the other side, the cost of diesel is anticipated to increase by Rs. 3.04/litre, to Rs. 250.30/litre from Rs. 247.26/litre. From Rs. 140.38/litre to Rs. 133.93/litre, the diesel Platts rate decreased by Rs. 6.46/litre. However, the price may fluctuate due to the growing exchange rate and freight costs.
The rise is also brought on by the potential increase in diesel fuel customs duties. The government intends to raise the tax from 18.74 to 22.11 rupees per litre, an increase of Rs. 3.37. As a result, the refinery pricing will rise from Rs. 223/litre to Rs. 224.57/litre, a 1.57 rupee increase.
Diesel’s ex-refinery price is expected to rise from its current level of Rs. 228.87 to Rs. 231.90 a litre.
It is important to note that consumers would be responsible for paying the increased distribution margins for diesel and gasoline, which are Rs. 3.68/litre and Rs. 7/litre, respectively. Additionally, there is a fee of Rs. 37.50 per litre and Rs. 7.50 per litre for gasoline and diesel, respectively.
Based on these numbers, analysts expect the price of gasoline to reduce, but the rapidly falling value of local currency keeps the situation unpredictable.
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