Petrol, diesel prices in Pakistan likely to see minor adjustment today

ISLAMABAD: As the fortnightly review approaches, recent reports indicate that the newly elected government is poised to keep petrol and diesel prices unchanged for the remainder of March in Pakistan.

Anticipation is building as the government prepares to unveil the ‘revised’ petrol and diesel prices for the next two weeks within the next few hours today.

These prices will take effect from Saturday, March 16, until the end of the month, pending the next fortnightly review.

While there were murmurs of a potential increase in petrol prices, recent reports suggest a possible minor adjustment, hinting at a rise of Rs1 per litre from the current rate of Rs279.75.

Notably, in certain cities such as Islamabad and Rawalpindi, petrol is already being sold at Rs280.59 per litre, with hi-octane commanding a price of Rs298.88 per litre.

In contrast, some earlier reports indicated a decrease in diesel prices for the upcoming fortnight, potentially dropping by Re0.82 per litre to Rs286.51 from the current Rs287.33 per litre.

Similarly, the price of kerosene may also see a decline of Rs0.94 per litre to Rs189.07 from Rs190.01 per litre.

Presently, the government imposes a petroleum development levy (PDL) of Rs60 per litre on petrol. Consumers additionally bear the burden of Rs5.69 per litre on petrol as IFEM (Internal Freight Equalisation Margin), Rs7.87 per litre as OMCs margin, and Rs8.64 per litre as dealer margin.

Similarly, the government applies a Rs60 per litre PDL on HSD (High-Speed Diesel), with consumers also incurring Rs4.24 per litre as IFEM, Rs7.87 per litre as OMCs margin, and Rs8.64 per litre as dealer margin for HSD usage in their vehicles.

As consumers eagerly await the official announcement, the consistency in pricing aims to provide stability amidst fluctuating global oil markets, ensuring minimal disruption to daily routines and expenses for the populace.

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