KARACHI: Petrol price would likely witness some decrease in the next fortnight when the government would revise the prices of petroleum products, The News learned on Wednesday.
However, the price of diesel would likely jump by Rs5/litre in the next fortnight review of its price, industry people said.
They noted that price would likely fall from three to five rupees in the coming fortnight, in case the government kept the exchange rate adjustment, zero.
According to the working of the industry, the ex-depot price of high speed diesel (HSD) has been estimated to register increase of Rs3.29/litre to Rs256.29/litre from Rs253/litre in the next fortnight.
Industry people said that in the last review of prices, government had adjusted only 0.13 paisas on the diesel price. If it adjusted three to four rupees in the next review, the price may go up by Rs5/litre.
The working showed that the ex-depot price of petrol is declining by Rs1.87/litre to Rs260.13/litre from Rs262/litre. Likewise the ex-depot price of light speed diesel may register Rs2.48 to Rs150.16 from Rs147.68 per litre.
The price of kerosene may witness an increase of Rs2.10 to stand at Rs166.17 from Rs164.07 per litre in the next fortnight.
According to the industry, the exchange rate is also showing upward trend for the next review of prices as it has gone up by Rs0.63/litre to Rs286.69 from Rs286.06/litre against the dollar.
Industry people stated that the working of industry was provisional, and whether the government would go with the actual difference in the prices of petroleum products or it would adjust the prices, could only be known once the government made its final decision.
When asked about the Russian crude oil import and its impact on the prices of petroleum products in the next fortnight, industry people stated that it would not have any impact on the next review of prices as it was recently shipped to Pakistan, and the processing of this crude started on Wednesday.
Refined products from Russian crude oil would reach the market in two weeks. However, they said that even after supply of these products, the market might not see any substantial impact on the domestic prices because of the low quantity against its consumption in the country.
They noted that even after the arrival of the second cargo on June 20, 2023, it would not have any impact on consumer prices until the share of Russian crude oil goes over thirty percent in total import of crude oil.
