- The next petrol price review will be on February 15.
- PDL can also be increased on diesel.
- POL prices are expected to rise sharply.
Karachi: The Gasoline prices An increase of Rs 20 per liter could be seen in the next two-week review – due on February 15, 2023. News reported on Tuesday.
This was based on calculations of the recent hike in petrol prices. International price of petrol That is, on a free-on-board (FOB) basis, oil industry sources told the publication.
Government The last fortnightly review of fuel prices saw a sharp increase of Rs 35 per litre. At present, the government is levying a petroleum levy (PL) of Rs 50 per liter while the General Sales Tax (GST) is yet to be implemented.
Sources said that petrol price may increase further provided the exchange rate is adjusted in the next review.
He further said that the exchange rate is high due to which the local consumers will miss out on any benefit or reduction in the prices of petroleum products.
Global petrol prices have declined, but remain steady. Devaluation of Rs Benefits have declined against the dollar, hurting domestic consumers.
Sources also said that if the government adjusts the exchange rate by Rs 20 per litre, the price of petrol may increase further, which will increase the price by Rs 40 per litre.
On the other hand, the price of diesel did not reflect any increase without the FOB exchange rate adjustment. Sources said that if the exchange rate is adjusted, diesel prices may increase in the next review.
The government had adjusted Rs 14 per liter on diesel based on the exchange rate. However, the strong appreciation of the dollar has eaten up the exchange rate adjustment of the last review.
He said that the prices of diesel in the global market have decreased by five to six dollars per barrel, but the depreciation of the rupee will not allow the government to pass on the decrease in global prices to local consumers.
The last increase in the prices of petroleum products was made on January 29, 2021 in the review of the federal government. After the review, the price of petrol was Rs 249.80 per litre; High Speed Diesel Rs 262.80 per litre; Kerosene oil Rs 189.83 per litre; and Light Speed Diesel Rs 187 per litre.
On 29 January 2023, the government increased the prices of petrol and high-speed diesel by Rs 35 per liter and the prices of kerosene and light diesel oil by Rs 18 per litre.
Pakistan is currently facing a shortage of petrol, with its most populous province, Punjab, suffering from this crisis. There is no fuel in big and small cities, towns and villages of Punjab, which is also being blamed on petroleum dealers.
Last week, sources said that apart from low imports of petrol by most of the oil marketing companies (OMCs), petroleum dealers were having a field day and were indulging in stockpiling of petrol in view of the expected hike in prices by mid. . – February