ISLAMABAD: Per litre price of petrol is estimated to go up by Rs 3.18 and high-speed diesel (HSD) is expected to witness Rs 8.30/litre cut during the last fifteen days of the on-going month of November 2023.
According to sources, the prices of petroleum products are estimated to find a mix trend during second half on current month of November, 2023. They said petrol price estimated to go up from Rs283.38/litre to Rs 286.56/litre after witnessing a hike of Rs 3.18/litre. Similarly, the price of HSD/diesel is likely to be decreased by Rs 8.30/litre from 303.18/litre to Rs 294.88/litre. Likewise, price of kerosene oil is expected to be decreased by Rs 5.61/litre from Rs 211.03/litre to Rs 205.42/litre. Furthermore, price of light diesel oil (LDO) is likely to find a cut of Rs 8.33/litre from Rs 189.46/litre to Rs 181.13/litre. Prices are calculated based on current government taxes and current US dollar exchange adjustment, said sources.
They added that the government may maintain the price of petrol because of outstanding forex adjustment and it seems that price of diesel (HSD) will reduce Rs 10/litre.
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 November 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 (including extra margin) on petrol & diesel currently stands at Rs 8.64/litre. Likewise, the margin of Oil marketing companies is set at Rs 7.87/litre. Furthermore, Distributors Margin (including extra margin) on diesel currently stands at Rs 8.12/litre and Rs 7.87/litre on petrol with effect from 1st November, 2023.  Â
On 1st November, the government maintained the prices of petrol and diesel at Rs 283.38/litre and Rs 303.18/litre respectively while it reduced the price of kerosene oil by rs 3.82/litre and fixed Kerosene oil price at Rs 211.03/litre. The price of LDO was decreased by Rs 3.40/litre an dset new price of LDO at Rs 189.46/litre for the first half of November, 2023.
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