Massive relief expected as petrol, diesel prices may fall
News Desk
Islamabad: Under the influence of the global oil market, petroleum product prices in Pakistan, including petrol and diesel, are expected to decline in the upcoming review, according to market sources.
Sources said the ex-refinery price of high-speed diesel has dropped by Rs31 per litre, while the ex-refinery price of petrol has decreased by Rs8.54 per litre.
The ex-refinery price of petrol reportedly fell from Rs277.60 to Rs268.52 per litre. However, customs duty on petrol increased by Rs2.86 per litre, taking the total customs duty from Rs22.75 to Rs25.61.
Read More: https://thepenpk.com/another-fuel-shock-govt-raises-petrol-diesel-prices-again/
Meanwhile, the premium on petrol per barrel rose by $2.90, increasing from $17.44 to $20.34 per barrel, despite a decline in the international price of petrol from $144.57 to $138.08 per barrel.
Similarly, the ex-refinery price of diesel declined from Rs322.28 to Rs291.37 per litre. The international price of diesel per barrel also fell by $17.61, decreasing from $169.10 to $151.40 per barrel.
Sources said the federal government will make the final decision regarding changes in petroleum prices. Prime Minister Shehbaz Sharif is expected to decide on the matter in consultation with the economic team while keeping revenue targets in view.
Market analysts believe that if the government refrains from increasing the petroleum levy or margin rates, consumers could receive significant relief in fuel prices.
