- The government will review the prices of petroleum products by the midnight of 15 July.
- Government is charging Rs 50 per liter PL on HSD; The IMF requires a PL of Rs 60.
- The ex-depot price of petrol has come down by Rs 10.08 to Rs 251.92.
KARACHI: Rupee appreciation will help bring down ex-depot petrol price for the next fortnight; However, the International Monetary Fund’s (IMF) stipulation seeking a hike in the Petroleum Levy (PL), may deprive consumers of this much-needed relief, news Reported on Saturday.
Government is set to review the prices of petroleum products by midnight of 15th July (today).
While there is no significant change in the ex-depot price of high-speed diesel (HSD), the petroleum levy on it may increase its price for end consumers in the next fortnight.
According to the oil industry, international prices of petroleum products have risen in recent days, but since the domestic currency has appreciated against the dollar after the IMF approved a loan of $3 billion and released the first tranche of $1.2 billion, So consumers can benefit from the cut. in the price of petrol.
According to oil industry watchdogs, the ex-depot price of petrol is seen to fall to Rs 251.92 per liter for the next fortnight – a drop of Rs 10.08 from the current price of Rs 262 per litre.
Meanwhile, the ex-depot price of HSD has increased by Rs 3.66 to Rs 264.16 per liter as against its existing rate of Rs 260.50 per litre.
The price of light-speed diesel has been increased by Rs 1.43 per liter to Rs 155.65 per liter as against the existing price of Rs 154.22 per litre.
Similarly, the ex-depot price of kerosene is also increasing by Rs 0.73 per liter to reach Rs 171.78 as against the current price of Rs 171.05 per litre.
The exchange rate has helped bring down the ex-depot price of petrol, while also keeping the increase in the ex-depot price of diesel low.
The exchange rate is showing a fall of Rs 8.42 per liter due to which the price of petroleum products may come down from the current price of Rs 286.99 to Rs 278.58 per liter in the next fortnight.
The government is levying a petroleum levy of Rs 55 per liter on petrol, which was increased by Rs 5 per liter in the last review of prices.
Oil sector people said, “It seems that the government may increase the PL to Rs 60 per liter in the next review of prices under the terms of the IMF, which seeks a PL of Rs 60 per liter on petrol.”
The government is charging Rs 50 per liter PL on HSD, while it is required to increase it to Rs 60 per liter under IMF conditions.
However, instead of increasing the PL by Rs 10, the government may increase the PL by Rs 5 per litre.
