Petrol price may come down by Rs 10 per liter

Staff Report

The consumers are likely to witness major relief in the price of petrol in Pakistan by Rs 10 per liter effective from July 16, 2023.

The major relief is expected due to the stability of the rupee against the dollar.

The price of petroleum levy (PL) may also go up to Rs 60 per liter against the current level of Rs 55 per liter on petrol.

The dollar was depreciated by Rs 8.42 from Rs 286.99 to Rs 278.58 mainly following the approval of a $3 billion IMF package.

Additionally, Saudi Arabia and UAE had also deposited funds into the central bank of Pakistan led to the stability of the rupee against the dollar.

With the expected cut in the price of petrol, the price is likely to come down from Rs 261 to Rs 251.92 per liter.

Petrol is mainly used in motorbikes and cars and is considered to be an alternative to CNG.

Diesel Price

However, the price of high speed diesel is likely to go up by Rs 3.66 per liter due to price fluctuation in the global market.

The price of diesel may go up from Rs 260.50 to Rs 264.16 per liter, registering an increase of Rs 3.66 per liter.

High speed diesel is used in transport and agriculture sectors and therefore, fluctuation in its price had a direct inflationary impact on the life of the masses.

The price of kerosene oil may also go up by Rs 0.73 per liter from Rs 171.05 to Rs 155.65 per liter.

Kerosene oil is used in remote areas of Pakistan where LPG was not available for cooking purposes.

The price of light diesel oil (LDO) may go up by Rs 1.43 per liter from Rs 154.22 per liter to Rs 155.65 per liter.

This fuel is used in industry.