ISLAMABAD: The ex-depot petrol prices may come down by Rs9.23 per litre and high-speed diesel (HSD) by Rs4.02 per litre next fortnight starting from June 16 till June 30, 2024.

The reduction in ex-depot petrol price would likely be reduced by Rs9.28 per litre and HSD Rs4.02 per litre from June 16, 2024, as the global prices have massively tumbled after stability in the Middle East returned. The premium on petrol is fixed at $9.590 per bbl and $6.50 per bbl on HSD is another reason.

Petroleum products estimated prices are calculated based on current government taxes with zero exchange rate adjustment.

According to the oil marketing companies’ estimates, from June 16, 2024, the authorities should reduce ex-depot petrol price to Rs259.08 per litre from Rs268.36 per litre.

The HSD price would also likely be reduced to Rs266.20 from Rs270.22 per litre. The sizeable relief in kerosene oil (SKO) and light diesel oil (LDO) is expected from June 16 for the next fortnight by Rs2 and Rs4.07 per litre respectively.

The said calculation has been worked out as per the initial estimates keeping in view the last 10-day trade of petroleum products in the international market.

However, in the next two days, the projections about the relief would be further firmed up after approval by the prime minister.

Copyright Business Recorder, 2024