Petrol Prices Kept Unchanged Till June End
The government has maintained Petrol prices effective from June 16, 2023. It also maintained the price of diesel and kerosene oil.
However, the government has increased the price of light diesel oil by Rs 2.52 per liter from Rs 147.68 per liter to Rs 150.20 per liter.
The price of petrol, high-speed diesel, and kerosene oil has been kept unchanged from June 26 to June 30, 2023.
Petrol price was projected to be reduced by Rs 1.87 per liter.
However, the price of high-speed diesel (HSD) was supposed to witness a significant increase of Rs 3.29 per liter.
Therefore, the government’s decision to keep the price of high-speed diesel unchanged will be a good omen for consumers.
The revision in prices of petrol and high-speed diesel was based on the current rate of Petroleum Levy and GST.
The price of petrol and high-speed diesel has been maintained at Rs 262 per liter and Rs 253 per liter respectively.
The price of these products also includes inland freight equalization margin (IFEM) and dealers’ and oil marketing companies’ margins in addition to petroleum levy.
The oil industry is charging an Inland Freight Equalization Margin (IFEM) of Rs 4.04 per liter on petrol and Rs 3.79 per liter on diesel.
Likewise, at present the petroleum levy is fixed at Rs 50/liter on petrol and diesel (HSD). Likewise, Oil Marketing Companies’ (OMCs) margin on the sale of petrol (92 RON) is fixed at Rs 6/litre and Rs 5/litre on HSD.
Furthermore, the fixed dealer’s commission on the sale of petrol and HSD currently stands at Rs7/liter.
Kerosene prices were projected to witness a hike of Rs 2.10 per liter, reaching an ex-depot price of Rs 166.17 per liter.
The Light Diesel Oil (LDO) was supposed to go up by Rs 2.48 per liter.Pakistan Economic Survey 2022-23: Oil Demand Declined by 21.9%
Kerosene oil is used in remote areas like the northern part of Pakistan where Liquified Petroleum Gas (LPG) was not available for cooking purposes.
LDO is used in industry.
The government has maintained the price of kerosene oil at Rs 164.07 per liter whereas the price of LDO has gone up to Rs 150.20 per liter from Rs 147.68 per liter, registering an increase of Rs 2.52 per liter.
