ISLAMABAD: Per litre price of petrol is estimated to go down by Rs 13.10 and high-speed diesel (HSD) is expected to witness Rs 13.66/litre cut during the last fifteen days of the on-going month of December 2023.
According to sources, the prices of all petroleum products are estimated to witness massive decrease during the second half of the current month of December, 2023. They said petrol price is estimated to go down from Rs281.34/litre to Rs 268.24/litre after witnessing a cut of Rs 13.10/litre. Similarly, the price of HSD/diesel is likely to decrease by Rs 13.66/litre from 289.71/litre to Rs 276.05/litre. Likewise, price of kerosene oil is expected to decrease by Rs 8.36/litre from Rs 201.16/litre to Rs 192.80/litre. Furthermore, price of light diesel oil (LDO) is likely to find a cut of Rs 10.23/litre from Rs 175.93/litre to Rs 165.70/litre. These oil prices are calculated based on current government taxes and without exchange adjustment, said sources.
It is relevant to note that the government is charging petroleum levy (PL) of Rs 60/litre on petrol and diesel with effect from 1st December 2023 while it is receiving Inland Freight Equalization Margin (IFEM) of Rs 7.71/litre of petrol and Rs 0.60/litre on diesel. Similarly, the rate of Dealers’ Margin on petrol & diesel currently stands at Rs 8.65/litre. Likewise, the margin of Oil Marketing Companies is set at Rs 8.25/litre with effect from 1st December, 2023.
On 1st December, the government maintained the price of petrol at Rs 281.34/litre while it reduced the price of HSD by Rs 7/litre and Kerosene oil price also witnessed decrease of Rs 3.82/litre. Moreover, the government approved Rs 4.52/litre cut in the price of LDO for the first half of December, 2023.
