ISLAMABAD: Petrol, high-speed diesel (HSD), and kerosene prices are expected to increase by up to Rs6 per litre on February 1, driven by rising international oil prices.
According to sources, petrol prices could see a Rs2-3 per litre hike, while HSD and kerosene may rise by around Rs6 per litre based on the latest calculations. The increase follows a $2 per barrel surge in Brent crude prices over the past fortnight.
HSD prices in the global market have risen by over $2.50 per barrel, whereas petrol prices saw a 50-cent per barrel uptick. Additionally, the import premium on petrol rose by 40 cents to $8.84 per barrel, while diesel’s premium remained stable.
As of Jan 29, estimated ex-depot prices stand at:
Petrol: Rs256.13 per litre
HSD: Rs260.95 per litre
Kerosene: Rs169.25 per litre (often unavailable at official rates)
Petrol is widely used in private transport, affecting middle- and lower-income groups. HSD, essential for heavy transport, trains, and agriculture, significantly impacts inflation, influencing food and commodity prices.
The government currently imposes Rs76 per litre in taxes on petrol and HSD, including a Rs60 per litre petroleum levy and Rs16 per litre customs duty. Despite zero GST, oil companies and dealers also charge around Rs17 per litre in distribution and sales margins.
Story by Khaleeq Kiani
