Islamabad: Possible Second Consecutive Increase in Petroleum Product Prices in the Country.
According to media reports, sources indicate that petrol and high-speed diesel prices may increase by approximately 4 to 5 rupees per liter from November 16. This rise is attributed to the import premium on petrol and increased prices in the international market. Over the past 15 days, the global market’s average prices of petrol and high-speed diesel have risen by 1.7 dollars and 4.4 dollars per barrel, respectively.
It has also been noted that the currency exchange rate has risen against the rupee. The import premium on petrol is about 1 dollar per barrel, with the current fortnightly premium rising from 8.8 dollars to 9.8 dollars per barrel, while it remains at 5 dollars per barrel for diesel. Based on the final exchange rate calculations and current tax rates, petrol and high-speed diesel prices may increase by 4 and 5 rupees per liter, respectively, marking the second consecutive price rise. Previously, on October 31, the government had increased the prices of petrol and high-speed diesel by 3.85 rupees and 1.35 rupees per liter, respectively.
Officials stated that the average international petrol price has risen from 75.6 dollars to approximately 77.2 dollars per barrel, and diesel prices have increased from about 83.6 dollars to 88 dollars per barrel over the last 15 days. Currently, in Pakistan, the ex-depot price of petrol is 248.38 rupees per liter, and high-speed diesel is priced at 255.14 rupees per liter
