POL products’ prices may be adjusted in PL

ISLAMABAD: The government may likely adjust the prices of petroleum products in petroleum levy (PL) which the government committed with the IMF to increase each month.

Sources in the petroleum sector said for the ex-refinery, the pricing trend is slightly negative: around Rs1.6 per litre on petrol and Rs3 per litre on high-speed diesel (HSD).

“However this price is without any exchange rate loss adjustment and there is some Rs4 per litre adjustment expected in HSD price, as the government skipped the adjustment last time”, sources said.

GST on petroleum products likely in second half of Nov

For consumers, last time there was a negative IFEM of about Rs5 on HSD which is expected to be in positive this month.

Also depending upon the increase in PL in HSD and general sales tax that may be applied for both petrol and HSD, it is expected that the price for consumers will be increased depending upon the government’s decision.

Copyright Business Recorder, 2022