Petrol and diesel: Exchange adjustment rate for PSO kept at Rs4.24, Rs2.62 per litre

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has kept Rs4.24 and Rs2.62 per litre exchange adjustment rate for Pakistan State Oil (PSO) on both petroleum products – petrol and high-speed diesel (HSD)- for the first half of September. The same rate was applicable during the second half of August 2023.

The interim government had raised the petrol price by Rs14.91 per litre, while the price of HSD had been jacked up by Rs18.44 per litre. The new petrol price is at Rs305.36 per litre and HSD is now costing Rs311.84 per litre.

The data shows that the government increased Rs12.90 and Rs12.14 per litre average of Platts with incidentals and duty on petrol and HSD respectively from September 1, 2023. The rate was raised from Rs237.42 to Rs249.56 per litre on HSD and Rs228.59 per litre from Rs215.69 per litre.

Incentive to refineries: Petroleum Div for Rs3/litre hike in prices of petrol, diesel

Ex-refinery rates were revised upward on petrol from Rs218.32 to Rs228.59 per litre or upward revision by Rs10.27 per litre. The ex-refinery price of HSD was revised upward from Rs233.19 to Rs249.56 per litre of Rs16.38 per litre raise.

Inland freight equalization margin (IFEM) has been reduced to 96 paisas from Rs3.03 per litre on HSD and petrol reduced from Rs4.13 to Rs3.77 per litre or 36 paisa. No change in the dealer margin has been revised and kept at Rs7 per litre. The government is charging Rs60 per litre petroleum levy on petrol and Rs50 per litre on HSD from September 1 to 15.

Copyright Business Recorder, 2023