Petrol, diesel prices: Exchange rate adjustment to PSO led to hike

ISLAMABAD: An exchange rate adjustment to Pakistan State Oil (PSO) of Rs3.01 per litre on high-speed diesel (HSD) and 10 paisa on petrol has led to a raise in the price of both petroleum products for the current fortnight (February 1-29).

The outgoing caretaker government jacked up the petrol price by Rs2.73 per litre to Rs275.62 per litre for the fortnight, as recommended by the Oil and Gas Regulatory Authority (OGRA).

The data available with Business Recorder reveals that average of platts with incidentals and duty has been raised by Rs5.19 per litre, ie, from Rs203.55 to Rs208.74 per litre on HSD and Rs2.60 per litre from Rs190.08 to Rs192.69 per litre on petrol on a month-to-month basis with effect from February 1.

Inland Freight Equalization Margin has been raised by six paisa on HSD from Rs3.82 to Rs3.92 per litre and three paisa from Rs6.91 to Rs6.94 per litre on petrol. In addition, an extra margin on HSD has been raised by 11 paisa from three to 14 paisa.

Copyright Business Recorder, 2024