ISLAMABAD: Price of petrol is expected to go up by Rs8.98 per litre while high speed diesel (HSD) by Rs1.06/litre for the second to half of January on the basis of existing petroleum levy (PL) and general sale tax (GST) on petroleum products.
However, sources in the petroleum division said that the government can maintain the prices of petroleum products at the current level by adjusting the petroleum levy (PL) imposed on petroleum products for the second half of January.
At present, the government is charging Rs 50/litre PL on MS Ron 92 (Petrol) and Rs 32.50/litre on HSD while zero general sales tax is imposed on petrol, HSD, high octane blended component (HOBC), Kerosene oil and light diesel oil (LDO). Similarly, Inland Freight Equalization Margin is fixed at Rs 3.51/litre on the sale of petrol, while Rs 0.81/litre on HSD. Furthermore, Oil Marketing Margins on petrol and HSD is fixed at Rs 5/litre. Furthermore, the dealers’ commission on petrol and HSD is fixed at Rs 7/litre. Â
An estimated Pakistan State Oil (PSO)’s exchange rate adjustment is Rs 5 per litre on petrol and Rs 3.50 per litre on HSD. In the last 12 days the rupee value against the US dollar is from Rs 225.93 to Rs 227.72.
According to sources, if the government opts to increase the price of petrol and HSD by Rs 8.98/litre and Rs 1.06/litre respectively, petrol price will go up from Rs 214.80/litre to Rs 223.78/litre, and HSD price will go up from Rs 227.80 to Rs 228.86 per litre. The expected prices of kerosene oil (SKO) is likely to go down by Rs 3.10/litre from Rs 171.83/litre to Rs 168.73/litre and light diesel oil (LDO) price will likely go down by Rs 2.39/litre from Rs 169/litre to Rs 166.61 per litre for the second half of January 2023.
It is pertinent to mention here that in order to fulfil the energy demand approximately 430,000 Metric Ton Mogas, 200,000 MT High Speed Diesel (HSD) and 650,000MT crude oil is imported on a monthly basis at a cost of around $ 1.3 billion.
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Overall, the article provides valuable information for individuals and businesses who are directly or indirectly impacted by fuel prices in Pakistan. However, it would have been helpful to provide more context on the reasons behind the global crude oil price increase and its potential long-term impact on the economy.