ISLAMABAD: The interim government may raise the petrol price by Rs8 to Rs11 per liter with effect from February 1, 2024, depending on the exchange rate adjustments.
Based on an adjustment to the currency rate, the price of high-speed diesel (HSD) is expected to increase by Rs 2 to Rs 7 per liter for the upcoming fortnight beginning on Feb 1.
The price of gasoline will increase by at least Rs 8 per liter and the price of HSD by Rs 2 per liter if the computation is predicated on the anticipated exchange adjustment of Rs 2.75 per liter for gasoline and Rs 4.50 per litre for HSD.
By modifying the pricing, the government can maintain the cost of light diesel oil (LDO) and kerosene oil (kero).
The estimations state that KERO should be lowered by Rs 1.50 per liter and LDO should be raised by Rs 1 per liter.
The current rates of general sales tax (GST) and petroleum levy (PL) are used for the computation for the two-week period beginning on February 1.
The predicted import premium for gasoline is $9.47 per barrel, while the estimated premium for HSD is expected to rise to $6.50 per barrel from $5.30 per barrel during the next two weeks.
Since January 16, the price of Brent has increased by more than $3 per barrel to $83 from $78 per barrel, while the price of HSD has increased by almost $ 2 per barrel to $97 from approximately $95 per barrel during the same period.
