ISLAMABAD: The interim government may raise the price of high-speed diesel (HSD) by Rs8 per litre; however, keep the price of petrol unchanged with effect from February 16, 2024.

The interim government may raise the HSD price by Rs8 per litre with effect from February 16, 2024, depending on the premium and exchange rate adjustments.

Pakistan State Oil (PSO) has paid $9.43 per bbl premium on petrol, down to $9.47 recorded in the last fortnight and $6.50 per bbl on HSD. The estimated exchange rate adjustment on petrol is 50 paisa and Rs1.70 per litre on HSD.

Caretaker govt increases petrol price by Rs13.55, HSD by Rs2.75

The government may sustain the price of kerosene oil (kero) and increase the rate of light diesel oil (LDO) by Rs2.50 per litre.

The price of HSD may go up from Rs285 to Rs293 per litre, whereas, the price of petrol may sustain at present Rs272.89 per litre.

The calculation for the fortnight starting from February 16 is based on the current rate of petroleum levy (PL) and general sales tax (GST).

The price of Brent went up by around $ 1.5 per barrel to $ 83 from $ 81.55 per barrel since February 1 while HSD had become costlier by about $ 3 per barrel.

The Oil and Gas Regulatory Authority (Ogra) has yet to work out the recommended fuel prices for the first half of February.

The authority calculated the prices of petroleum prices keeping in view monthly tax targets and estimated fuel consumption and supply cost of Pakistan State Oil (PSO).

Copyright Business Recorder, 2024