Petrol Prices
The federal government is considering maintaining the current petrol prices while introducing a minor reduction in the ex-depot price of high-speed diesel (HSD), effective from October 1.
This move is part of the government’s efforts to manage fuel costs amidst global fluctuations in oil prices.
While petrol prices are expected to remain steady, there is potential for slight price decreases in other petroleum products such as HSD, kerosene oil, and light diesel oil (LDO) in the upcoming month.
Officials have indicated that due to the existing petroleum levy (PL) and general sales tax (GST) rates on petroleum products, petrol prices are likely to stay unchanged at Rs249.10 per litre.
This is in line with the government’s strategy to avoid significant adjustments in petrol prices, which would affect a larger portion of the population.
However, there is room for reductions in the prices of HSD and other products. According to current estimates, the price of high-speed diesel may decrease by Rs2.11 per litre, lowering it from Rs249.69 to Rs247.58 per litre.
Kerosene oil, often used for household purposes in rural areas, is also expected to see a reduction of Rs3.23 per litre, bringing the price down from Rs158.47 to Rs155.24 per litre.
Similarly, light diesel oil (LDO), which is used in industrial sectors and some rural areas, could experience a minor drop in price, decreasing from Rs141.93 to Rs141.04 per litre.
These price adjustments are expected to provide some relief to consumers, especially those in sectors that rely heavily on diesel and kerosene.
The anticipated changes in fuel prices will largely depend on shifts in the international oil market, which remains unpredictable. As of now, the premium for petrol stands at $8.768 per barrel, while the premium for HSD is at $5 per barrel.
These premiums, along with the relatively stable exchange rate, will play a key role in determining the final pricing for the first half of October.
Overall, while petrol prices are set to remain unchanged, the modest reductions in diesel and kerosene oil costs may provide some economic relief, particularly for industries and households that rely on these fuels.
The federal government will continue monitoring global oil price trends and exchange rates before finalizing the new prices.
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