ISLAMABAD: The federal government on Friday kept the prices of petrol and high-speed diesel (HSD) unchanged for the first fortnight of April.

The prices of kerosene oil (KERO) and light diesel oil (LDO), however, have been reduced by Rs10 per litre for the period April 1-15, 2023.

The price of KERO has been reduced from Rs190.29 per litre to Rs180.29 per litre and LDO’s price has come down to Rs174.68 from Rs184.68 per litre.

The Oil Marketing Companies (OMCs) had estimated a substantial reduction in ex-depot fuel prices by up to Rs14 per litre based on the rate of petroleum levy (PL) and general sales tax (GST) applicable during the second half of March.

The OMCs had estimated that Rs3.50 per litre reduction in petrol price. The price of HSD was likely to come down by Rs14 per litre. Similarly, price of KERO was estimated to have climbed down by Rs13 per litre and LDO price by Rs10 per litre.

The government has been charging Rs50 per litre PL on petrol since November 2022.

With effect from March 16, 2023, the federal government had allowed Pakistan State Oil (PSO) an exchange rate adjustment of Rs24.67 per litre on HSD and Rs6.30 per litre on petrol.

The petroleum levy,(PL) rate on HSD has been increased by Rs 5 per litre. The PL rate is now Rs 50 per litre on HSD, Rs 2.83 per litre on KERO and Rs 13.78 per litre on LDO.

Copyright Business Recorder, 2023

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