Web Desk: The Pakistani government is expected to increase petrol prices by Rs. 4.75 per litre in the upcoming pricing cycle, even as high-speed diesel rates remain largely unchanged due to significant duty reductions.
Internal oil industry estimates indicate that the ex-refinery price of petrol will likely climb to Rs. 274.77 per litre, up from the current Rs. 270.03. This projected hike stems primarily from a rise in international Free on Board (FOB) prices, which climbed from $139.03 to $143.01 per barrel during the recent review period. Furthermore, the removal of a previous Pakistan State Oil adjustment of Rs. 1.41 per litre contributed to the net increase, despite a slight decline in incidental costs.
In contrast, high-speed diesel (HSD) prices are projected to move by only a marginal Rs. 0.20 per litre, bringing the rate to approximately Rs. 334.93. Although the global benchmark for diesel jumped significantly from $160.41 to $172.99 per barrel, internal calculations show that a sharp reduction in customs duty neutralized the impact. Customs duties on HSD declined by more than Rs. 20 per litre, effectively shielding consumers from the volatile international market.
Stability in the currency market also played a crucial role in the current estimates. The Pakistani rupee remained steady at approximately Rs. 278.9 per US dollar throughout the review period, preventing further inflationary pressure on imported fuel.
Industry officials noted that while petrol users will feel the direct impact of higher global gasoline demand, diesel consumers are benefiting from specific policy measures and duty adjustments.
However, these projections assume the government will not introduce additional petroleum levies. The final consumer prices remain subject to the Finance Division’s approval and any last-minute adjustments to taxes or exchange rates before the official notification.
Read more: NCCIA makes shocking revelations about social media accounts
