ISLAMABAD: The interim government has kept the prices of high-speed diesel (HSD) and petrol unchanged with effect from November 1-15, 2023 by adjusting Rs5.56 and Rs3.71 per litre price reduction on HSD and petrol in increasing petroleum levy (PL), OMC and dealers’ margins.

The ex-refinery price has been slashed by Rs5.56 per litre from Rs231.38 to Rs225.82 for the first half of November due to a reduction in oil prices internationally and the rupee gain against US $ in the last 15 days. In the last 15 days, the ex-refinery sale price calculated at Rs279.52 exchange rate which was Rs282.37 in the previous price review of October 16.

The PL rate on HSD has been revised upward from Rs55 to the maximum limit of Rs60 per litre. Oil marketing margin increased by 47 paisa from Rs7.65 to Rs8.12 per litre. The dealer margin has also improved by 41 paisa from Rs8.23 to Rs8.64 per litre. However, IFEM has reduced by 32 paisa from 92 to 60 paisa.

Petrol and diesel prices will remain unchanged until November 15

On petrol, the interim government slashed down refinery price by Rs3.17 per litre from Rs202.33 to Rs199.16 per litre. IFEM increased by Rs2.30 per litre from Rs5.41 to Rs7.71 per litre. The OMC and dealer margin increased by 46 paisa and 41 paisa.

Copyright Business Recorder, 2023