The second half of June could witness a price reduction of Rs1.87 per litre in petrol. However, high-speed diesel (HSD) prices might escalate by Rs3.29 per litre, which could affect individual consumers and industrial sectors.
Industry insiders suggest that these potential shifts in petrol and diesel prices result from the current petroleum levy and general sales tax (GST) rates.
The petrol exchange rate adjustment proposed by Pakistan State Oil (PSO) is projected at Rs3.50 per litre, while diesel is expected to be adjusted by Rs0.31 per litre.
Moreover, the government levies an Inland Freight Equalisation Margin (IFEM) of Rs4.04 on each litre of petrol and Rs3.79 on diesel.
If sanctioned, the petrol price cut would lower its ex-depot rate to Rs260.13 per litre, a decrease from the current market price of Rs262.
However, the ex-depot diesel price could rise to Rs256.29 per litre from the current Rs253, igniting worries amongst consumers that depend on diesel for transport and power generation.
The cost of kerosene oil is also predicted to increase by Rs2.10, reaching Rs166.17 per litre ex-depot. Similarly, light diesel oil (LDO) might surge Rs2.48 to Rs150.16 per litre. These changes could affect households that use kerosene oil for cooking and industries that require LDO.
These fuel price adjustments reflect the government’s attempt to maintain economic stability while addressing challenges in the energy sector. The goal is to keep consumer prices reasonable while managing financial limitations.
