ISLAMABAD: According to an official announcement, the government has increased the price of diesel by Rs5 per liter, while the price of gasoline has remained the same for the next two weeks.
This is the first price increase for petroleum products in three months, even though prices have been consistently falling on the international market.
The Ministry of Finance announced late on Tuesday that the ex-depot price of high-speed diesel (HSD) was set at Rs251.29, an increase of Rs5 from Rs246.29 per liter.
For the following two weeks, the price of a liter of gasoline remained the same at Rs247.03.
Rate rises by Rs5 to Rs251 by government; petrol remains at Rs247 In the retail market, diesel and gasoline are being sold for Rs248 to 248.50 and Rs252, respectively.
The Oil and Gas Regulatory Authority, according to the ministry’s announcement, has calculated prices based on market fluctuations worldwide.
The cost of diesel had gone up by a normal of $1.5 per barrel while petroleum remained range-bound in the global market.
The cost of a liter of HSD and petrol has decreased by Rs28.57 and Rs36.34, respectively, over the past five weeks.
In the past, in the month of July, the prices of HSD and gasoline increased by Rs17.44 and Rs15.74 per liter, respectively.
The prices decreased by approximately Rs35 per liter and Rs22 per liter between May 1 and June 15.
As of now, the public authority is charging about Rs76 per liter expense on both petroleum and HSD. Be that as it may, the overall deals charge is zero on all oil based goods.
In addition, the Petroleum Development Levy (PDL) is being assessed by the government at a rate of Rs60 per liter for both items that normally affect the general public. Other costs include a customs duty of approximately Rs16 per liter on gasoline and HSD, regardless of whether they are produced locally or imported.
Additionally, oil dealers and their distributors receive approximately Rs17 per liter in distribution and sale margins.
Then again, the public authority is charging Rs50 per liter assessment on light diesel and high power mixing parts and 95RON petroleum utilized by the rich for their extravagance imported vehicles. Petroleum and HSD are the significant income spinners, with month to month deals of around 700,000 to 800,000 tons each month.
