ISLAMABAD: The prices of major petroleum products are expected to see minimal changes for the next fortnight ending December 15, as slight shifts in international oil rates and a marginal improvement in the exchange rate balance out.
According to industry sources, global prices for petrol and high-speed diesel (HSD) have risen slightly in the past two weeks, but recent declines and stable import premiums have kept the overall impact negligible. The rupee’s modest appreciation has further offset potential price hikes.
Calculations as of November 28 suggest a minor increase of about Rs3 per litre for petrol, HSD, and kerosene. However, an official from the Oil and Gas Regulatory Authority (Ogra) indicated that the increase might be absorbed within the inland freight equalization margin (IFEM), maintaining uniform prices across the country.
Currently, ex-depot prices stand at Rs248.38 per litre for petrol and Rs255.14 per litre for HSD. Despite global volatility, the government has largely maintained stable prices, with only slight increases recorded in late October.
Petrol primarily affects private transportation and the budgets of middle- and lower-income groups. HSD, crucial for heavy transport, agriculture, and industry, significantly influences inflation, particularly in the cost of food and goods.
At present, the government imposes approximately Rs76 per litre in taxes on petrol and HSD, including a Rs60 per litre Petroleum Development Levy (PDL) and Rs16 per litre customs duty. Luxury fuels like high-octane blending components and premium petrol face higher levies of Rs50 per litre, reflecting their usage in high-end vehicles.
While no major price adjustments are expected, experts urge careful monitoring to prevent inflationary pressures on essential goods and services.
Story by Khaleeq Kiani
