Oil Prices to Remain Steady from Nov 1, 2022
According to a government decision made on Monday, oil prices will remain steady for the next two weeks starting on November 1, 2022.
Expectations had been made that the government will lower the price of gasoline in response to changes in the price of crude oil globally.
The price of gasoline was predicted to decrease by Rs 2.86 per liter in accordance with the Platts and exchange rate. Govt Maintains Oil Prices Till October 31
High-speed diesel rates, however, were set to increase by Rs 3.70 per liter for the following two weeks starting on November 1, 2022.
However, the government refused to lower the cost of gasoline for the public.
As the government chose to keep the price the same for the next two weeks, high-speed diesel consumers could breathe a sigh of relief.
Cars and motorcycles both need gasoline. This is a substitute for CNG.
In the transportation and agricultural industries, high speed diesel is used. As a result, any pricing changes will directly affect consumers.
Additionally, PSO had requested exchange loss adjustments of Rs. 6 per liter for gasoline and Rs. 5 per liter for high-speed diesel (HSD).
Due to changes in exchange rates, adjustments are being requested for imported gasoline and high-speed diesel (HSD).
The government’s decision to keep the price of gasoline and high-speed diesel would prevent the PSO from obtaining an adjustment.
HSD will continue to cost the same per-liter amount of Rs 235.30, which has been maintained.
The gasoline will also be offered for sale at the present rate of Rs 224.80 for a liter.
CNG can be substituted with gasoline, particularly in the Punjab province.
The demand for gasoline will also increase if there is a gas shortage during the winter since CNG stations may not receive gas.
Kerosene oil has remained at Rs 191.83 per liter.
In the northern parts of the country, where LPG is not readily available, this product is utilized for cooking.
The Pakistani army also uses it in the country’s north.
Additionally, the cost of light diesel oil (LDO) per liter has been held steady at Rs 186.50 per liter. Industry uses this product.
