Markets

Component-wise breakdown of petrol price in Pakistan

  • Decrease in rate due to decline in ex-refinery price
Published May 16, 2023 Updated May 16, 2023 07:16pm

As the government announced what it termed a “relief” in petrol prices in Pakistan late on Monday night, Business Recorder takes a look at the component-wise breakdown.

While announcing a cut of Rs12 per litre, Finance Minister Ishaq Dar said Prime Minister Shehbaz Sharif wanted maximum relief to be passed onto the public.

The cut was made owing to a decline in ex-refinery price that fell from Rs215 per litre to Rs203.26 per litre. This came on the back of fall in global oil prices over the past fortnight.

Moreover, the IFEM, OMC and dealer margins contracted slightly by Rs0.26 to Rs16.74 per litre.

The government maintained status quo on Petroleum Development Levy (PDL) at Rs50 per litre. This charge was imposed on demand of the International Monetary Fund (IMF) in June 2022.