ISLAMABAD: The federal government is considering maintaining the current price of petrol while implementing a slight decrease in the ex-depot price of high-speed diesel (HSD) starting from October 1, 2024.

Given the prevailing rates of petroleum levy (PL) and general sales tax (GST) on petroleum products, the government anticipates that the price of petrol will likely remain unchanged.

However, there is a possibility that the prices of HSD, kerosene oil, and light diesel oil (LDO) could decrease during the first half of October 2024.

Govt reduces petrol price by Rs10, HSD’s by Rs13.06 per litre

The premium for petrol remains at $8.768 per barrel, while the HSD premium stands at $ 5 per barrel. There have been minimal changes in the exchange rate adjustment.

According to estimates, the petrol price will likely stay at its current level of Rs 249.10 per litre. HSD prices might decrease by Rs 2.11, going from Rs 249.69 per litre to Rs 247.58 per litre. Kerosene oil prices could also drop by Rs 3.23 per litre, from Rs 158.47 to Rs 155.24 per litre.

Similarly, LDO prices may decrease from Rs 141.93 per litre to Rs 141.04 per litre. These estimates are subject to fluctuations in the global oil market.

Copyright Business Recorder, 2024