ISLAMABAD Due to rising global costs, it is predicted that the price of gasoline, kerosene, and high-speed diesel (HSD) could rise by up to Rs6 per liter on Friday for the upcoming two weeks.
According to informed sources, based on the final computation on January 31, the ex-depot price of gasoline was predicted to increase by Rs2–3 per litre. Prices for diesel and kerosene are predicted to increase by roughly Rs6 per litre.
The estimates are predicated on the global market’s optimistic tendency. Over the past two weeks, the price of a barrel of Brent has increased by as much as $2.
According to these sources, the price of gasoline increased by roughly 50 cents per barrel over the past two weeks, while the average price of HSD rose by more than $2.50 per barrel on the global market. Kerosene’s ex-refinery price also increased. While the import premium for diesel stayed the same, it rose by about 40 cents to $8.84 per barrel for gasoline. Additionally, the currency rate mostly held steady.
Consequently, the most recent computation as of January 29 indicated a rise of approximately Rs5 to Rs6 per liter for kerosene and HSD and Rs2-2.50 per litre for petrol.
The price of petrol ex-depot is Rs256.13 per litre, plus HSD of Rs260.95. Although kerosene is officially priced at Rs169.25 a litre, this price is rarely found on the market.
The middle and lower middle classes’ budgets are directly impacted by the consumption of gasoline, which is mostly utilized in two-wheelers, rickshaws, compact cars, and private transportation.
HSD powers the majority of the transportation industry. Since it is mostly utilized in heavy machinery, railroads, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, its cost is regarded as inflationary. In particular, it raises the cost of vegetables and other consumables.
At the moment, the government taxes petrol and HSD at a rate of roughly Rs76 per liter. Despite the fact that all petroleum products are exempt from general sales tax (GST), the government imposes Rs60 per litre PDL for both, which typically affects the average public.
Regardless matter whether they are imported or produced locally, the government also levies a customs levy of around Rs16 per liter on gasoline and HSD. Additionally, oil corporations and their dealers levy distribution and sale margins of around Rs17 per litre for both products.