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Petroleum levy at Rs60/litre: component-wise breakdown of petrol price in Pakistan

  • Price has increased 21% since August 1, 2023
BR Web Desk Published September 2, 2023

As the caretaker government announced the prices of petroleum products for the next fortnight, Business Recorder takes a look at the component-wise breakdown.

The authorities increased petrol price by Rs14.91 per litre, and high-speed diesel (HSD) by Rs18.44 per litre, taking them to historic highs of Rs305.36 and Rs311.84 per litre, respectively.

The component-wise breakdown saw a massive difference. On a cumulative basis, the governments (coalition and caretaker) have increased prices of petrol by 21% since August 1.

“Owing to the increasing trend of petroleum prices in the international market and exchange rate variations, the government has decided to revise the consumer prices of petroleum products,” the Finance Division said in a press release at the time.

The new prices took effect from September 1, 2023.

Petrol

The ex-refinery price saw a major increase of Rs10.27 per litre.

Authorities also decided to increase the Petroleum Development Levy (PDL) by Rs5, taking it to Rs60. This is the highest PDL allowed at the moment.

The uptick in PDL comes on the back of the $3-billion stand-by arrangement (SBA) reached with the International Monetary Fund (IMF) for next 9 months by the government of Pakistan. One of the conditions agreed under the programme was to increase the ceiling of PDL from previous Rs55 per litre to Rs60.

However, the Inland Freight Equalization Margin (IFEM) reduced marginally by Re0.36 to Rs3.77.

Distribution and dealer margins remained unchanged at Rs6 and Rs7, respectively.

High-Speed Diesel (HSD)

On the other hand, HSD’s ex-refinery price also saw a significant increase of Rs16.38 per litre. The authorities decided to keep the PDL unchanged at Rs50.

Meanwhile, the IFEM increased by Rs2.07 to negative Re0.96.

The distribution and dealer margin remained unchanged at Rs6.24 and Rs7, respectively.

Petroleum prices HSD HSD price petroleum development levy PDL IFEM IMF and Pakistan IMF SBA ex refinery price

Comments

Comments are closed.

KU Sep 02, 2023 06:52pm
Okay, now the BR should give its readers a salary and perks breakdown of our public servants, especially the status of subsidized fuel and utility bills. The citizens have the right to know the reasons for being left behind and forced to pay the bills of public servants.
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Az_Iz Sep 02, 2023 08:06pm
People in US and EU pay about $1.25 per liter of petrol. In India also, where purchasing power is about 20 times less than wealthier countries, like US and other EU countries, petrol is about $1.25 per liter. Pakistan is also getting there. The country cannot afford to sell petrol at half the cost, like it used to, when it does not have the money.
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Az_Iz Sep 02, 2023 08:09pm
@KU, country does not have the money to sell Petrol at half the price compared to India, US and EU, like it used to, in the past. Petrol in all these countries is still more expensive than Pakistan. India’s purchasing power is about 20 times less than US and EU. Yet petrol prices are the same.
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Az_Iz Sep 02, 2023 08:12pm
@KU, you should be demanding more public transportation which is more efficient. You should demand that cities not be allowed to expand horizontally forever, which also increases fuel consumption.
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Az_Iz Sep 02, 2023 08:16pm
@KU, everyone wants cheap fuel, cooking oil and other food items. They want retail stores to be open until midnight, which does not happen in many other countries. A low income country with barely any foreign exchange reserves cannot afford this. People should demand and use more public transport. Shop early and go to bed early. Do your part. Don’t ask for things to be delivered to you.
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KU Sep 02, 2023 09:08pm
@Az_Iz, No one is asking for any kind of deliverance, nothing is expected from this lot. As a farmer, I can tell you that we are contributing and doing our part. On average, farmers save around Rs. 15000 per acre in an uncertain year of cultivation and crop prices and without AC, but we keep doing it to feed the workers as well as the country, but the high cost of production is shutting us down and our efforts. The ‘’demands’’ that you suggest we should voice, fall in the domain of the elected representatives and professional public servants, who for the last many decades were supposed to plan and develop infrastructure for future economic growth as well as population, but they chose to ignore this with impunity. And guess what, they became rich while the country is now bankrupt and people are suffering. So, at least we have the right to know about their perks and privileges versus the pain and pathetic lives of people.
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Haider Sep 02, 2023 09:36pm
انا للہ و انا الیہ راجعون
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Az_Iz Sep 03, 2023 12:04am
@KU, regardless of agreeing or not with you on the subject , you are very literate and knowledgeable. If you really are a farmer, then lots of respect to you. The country needs a lot of people like you.
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Ahsan Ahmed Sep 03, 2023 02:01pm
Comments are given below they know everything and father of economics, BR researched and analytical figure shows over here, fact are that people earned over here (per capita) very less than other countries so price of commodities should be according to most individual income for poor and middle class or as per capta. Not to compare with other countries, people comments over here are seems to full of pocket money where BR Columnist write down the fact and figure.
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FJ Sep 03, 2023 02:58pm
@Az_Iz, EU petrol prices are upward of $1.90 Pakistan petrol prices are traditionally equal to us prices which is lowest in non oil producing nations
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Saleem Abbas Sep 04, 2023 06:51am
@Az_Iz, Mr. Aziz now plz let us know that how many free units of electricity government employees and department do consume in EU , US and India??? Would you???
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Ali Sep 04, 2023 09:04am
Pls do a piece on electric bills
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E Sep 04, 2023 10:42am
@Az_Iz, agree I think answer is public transport not metronpkease but varan like bus services using regular roads this will reduce gongestion and help prople and country. Not a popular opinion but thus subsidy is for ghe rich and prebilaged class whose burden is taken up by everyone e else in form of Fleet of gov vehicles etc. But the ac dc and other administrative apparatus has to seem to offer their two bit sacrifices as well.
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E Sep 04, 2023 10:46am
@Saleem Abbas , yes government officials do get perks in us, eu and india its the nature of the beast. So do judges look it up.
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E Sep 04, 2023 10:46am
But I agree for people appeasement point is to make the government appear to suffer as well like everyone else.
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imdad kolori Sep 04, 2023 02:38pm
peasants working for masters. I am salaried person, i am a peasant, all BPS people are my masters, its my mission to pay for the luxuries of my masters. Thats my motive in life/
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