Petrol prices in Pakistan might drop by Rs 3-5

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The Pakistani government is anticipated to announce a reduction in the price of petrol today for a second time this month, according to local media reports on Thursday following a decrease in the ex-depot price of petrol.

But reputable sources in the sector as per media reports said that the cost of diesel will most likely increase by Rs. 5 per liter in today’s fortnightly review, which would take effect on June 16.

In contrast, if the government decided to keep the exchange rate adjustment at zero, the price of gasoline would probably decrease by Rs 3 to 5 in the next fortnight’s review.

The ex-depot price of high-speed diesel (HSD) is anticipated to rise by Rs3.29 per liter to Rs256.29 per liter from Rs253 per liter, according to the workings of the industry.

Industry experts noted that the government has only reduced the price of fuel by Re0.13 since the last review of prices. In today’s review, if it is changed to Rs. 3–4, the price might increase by Rs. 5 per liter.

Calculations revealed a decrease in the ex-depot price of petrol from Rs. 262 per liter to Rs. 1.87 to Rs. 260.13 per liter. Similarly, the light-speed diesel ex-depot price may range from Rs2.48 to Rs150.16 from Rs147.68 per liter.

In the following two weeks, the price of paraffin could rise by Rs2.10 to Rs166.17 per liter from Rs164.07.

For the upcoming price review, the exchange rate is also displaying an upward trend, increasing by Rs0.63 per liter to Rs286.69 from Rs286.06 per liter, according to the reports.

They claimed that the industry’s functioning was provisional and that the government’s ultimate decision on whether to accept the actual difference in the pricing of petroleum products or to change the prices would only be known after that.