ISLAMABAD: There might be a big rise of upto Rs20 per litre in the cost of petrol and high-speed diesel (HSD) due to the rupee losing its value against the US dollar and a slight change in oil prices internationally.
The price of petrol could go up by over Rs10 per litre and HSD by Rs20 per litre in the first half of September.
According to estimates of oil sector companies, the price of petrol would likely go up by Rs10 per litre from Rs290.45 to Rs300.45 per litre or 3.5 percent, while the price of HSD by Rs20 per litre from Rs293.40 to Rs313.40 per litre or 6.9 percent.
Prices of petrol, diesel increased by upto Rs20
The price of other petroleum products items which has less than one percent of total fuel consumption in the country – KERO and LDO – may also increase by Rs14 per litre and Rs10 per litre, respectively.
After an increase by Rs14 per litre KERO would be increased from Rs217.15 to Rs231.15 per litre and LDO from Rs199.79 to Rs208.80 per litre. The average exchange rate loss is Rs9.93 in the last 15 days.
The rupees against the US dollar till August 29 has moved from Rs288.25 to Rs298.18 or Rs10 in exchange rate losses. The price is calculated based on petroleum levy (PL) on petrol of Rs55 and Rs50 per litre on HSD.
In the last two reviews, the price of petrol had already gone up by Rs37.50 per litre, and HSD had become Rs40 more expensive.
Copyright Business Recorder, 2023
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