The federal government has approved Pakistan State Oil (PSO) to make a per litre exchange rate adjustment of Rs1.34 on petrol and 26 paisa on high-speed diesel (HSD) for the fortnight starting April 16, 2024.
According to documents obtained by Business Recorder, this adjustment marks an increase of Rs1.01 per litre for petrol compared to the previous fortnight, while HSD sees a reduction of 30 paisa per litre compared to the previous adjustment of 56 paisa. The average Platts price, including incidentals and duty, has risen by Rs1.73 per litre for petrol and Rs7.95 per litre for HSD over the past two weeks.
Ex-refinery prices have also increased, with petrol rising by Rs3.07 per litre and HSD by Rs8.20 per litre. Additionally, the Inland Freight Equalisation Margin (IFEM) has been adjusted, with a Rs1.45 per litre increase for petrol and a new rate of Rs3.71 per litre for HSD.
Dealer margins for petrol remain unchanged, while HSD sees a decrease of 11 paisa. This adjustment reflects the ongoing fluctuations in fuel prices influenced by international market dynamics and exchange rate variations.
Story by Wasim Iqbal
