Consumers in Pakistan may see a mixed adjustment in fuel prices from August 16, with petrol expected to become slightly costlier while diesel and other petroleum products are likely to get cheaper, according to industry estimates.
Petrol price likely to edge up
Sources said the petroleum industry has proposed a Rs1.32 per litre increase in petrol prices, which would raise the rate from Rs264.61 to Rs265.93. The hike comes despite declines in global oil prices for other fuels, reportedly due to market adjustments and refining costs.
Diesel, kerosene, and LDO may see relief
High-speed diesel prices are expected to drop by Rs11.75 per litre, bringing the rate down from Rs285.83 to Rs274.08. Kerosene oil could see a Rs6.25 per litre cut, reducing its price from Rs185.46 to Rs179.21.
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Light diesel oil is also projected to decrease by Rs7.11, lowering its price from Rs170.36 to Rs163.25 per litre.
OGRA to finalise summary for govt approval
The Oil and Gas Regulatory Authority (OGRA) will prepare its official summary based on the petroleum industry’s calculations and submit it to the federal government on August 15. Prime Minister Shehbaz Sharif will give the final approval before the revised prices are notified.
If approved, the new fuel prices will come into effect from midnight between August 15 and 16.
Current petrol, diesel prices in Pakistan
According to a notification issued by the Ministry of Finance, the price of petrol was reduced by Rs7.54 per litre, while the price of diesel increased by Rs1.48 per litre.
Also Read: Petrol price in Pakistan may drop from Aug 16
The new price of petrol was set at Rs264.61 per litre. Diesel was being sold at Rs285.83 per litre.
While the federal government reduced petrol prices by Rs7.45 per litre in response to declining global crude oil prices, the move was largely offset by a significant increase in petroleum levies, denying consumers substantial relief.
According to informed sources, the levy on petrol and diesel was increased by Rs2.55 per litre, raising the total levy to Rs78.02 on petrol and Rs77.01 on diesel. This hike in petroleum levy came into effect alongside the new fuel prices on August 1.
In addition to the revised petroleum levy, a climate support levy of Rs2.50 per litre remains in place on both petrol and diesel, adding to the overall cost burden on consumers.
Further contributing to the increase, the freight margin on diesel was raised by 20 paisas, bringing it to Rs6.24 per litre. On top of this, dealer margins on both petrol and diesel stand at Rs8.64 per litre, while distributor margins are Rs7.87 per litre.
