The prices of petrol and high-speed diesel (HSD) are expected to decrease by Rs2 to Rs3 per litre from November 1, following a slight decline in global oil prices.
The average global price of petrol fell by around $1.5 per barrel, while HSD saw a reduction of $2.5 per barrel over the last two weeks. In the international market, petrol prices have slipped to approximately $76 per barrel from $77.5, while HSD prices have dropped from $86.5 to around $84 per barrel.
Based on the latest exchange rate and current tax rates in Pakistan, the prices of petrol and HSD are projected to decrease by Rs3 and Rs2.30 per litre, respectively.
Import premiums remained stable over the fortnight at $8.7 per barrel for petrol and $5 for HSD, with the exchange rate showing little fluctuation. Currently, the ex-depot prices for petrol and HSD stand at Rs243.03 and Rs251.29 per litre, respectively.
The last adjustment on October 15 saw an increase in diesel prices by Rs5 per litre while keeping petrol prices unchanged at Rs247.03 per litre. That hike ended a three-month period of continuous reductions as international prices softened.
Currently, the government levies around Rs76 per litre in taxes on both petrol and HSD, comprising a petroleum development levy of Rs60 and Rs16 in customs duty. Distribution and sale margins also add approximately Rs17 per litre for oil companies and dealers.
