Incorporating exchange rate: Govt approves price adjustment for PSO

ISLAMABAD: The federal government has approved adjustments in petroleum prices, allowing Pakistan State Oil (PSO) to incorporate an exchange rate of 34 paisa on petrol and 56 paisa on high-speed diesel (HSD) fortnight starting from April 1, 2024.

This decision comes in response to the impact of rising global petroleum prices, resulting in an increase of Rs10.59 per litre on petrol and Rs2.63 per litre on high-speed diesel (HSD) starting from April 1, 2024. The ex-refinery price of petrol has risen by Rs9.67 per litre, climbing from Rs197.94 to Rs207.60 per litre.

There has been a decrease of Rs3.52 per litre on HSD, dropping from Rs269.05 to Rs265.53 per litre.

In terms of margins, the inter-freight equaliser margin for petrol remains unchanged at Rs5.30 per litre, while for HSD, it has been reduced by 33 paisa from Rs3.99 to Rs3.66 per litre.

Distance margin and dealer margin for petrol remain steady at Rs7.87 per litre and Rs8.64 per litre respectively.

However, an extra margin on HSD has been increased by 20 paisa.

The ex-depot price of petrol has surged by Rs9.66 per litre, escalating from Rs279.75 to Rs289.41 per litre, while HSD has seen a decrease of Rs3.32 per litre, declining from Rs285.56 to Rs282.24 per litre.

The sales tax on petrol and HSD remains at zero, petroleum levy (PL) of Rs60 per litre has been imposed on both products.

Copyright Business Recorder, 2024