Islamabad, Oct 28: It is anticipated that the Petrol and Diesel Prices in pakistan will decrease by around Rs. 2 to Rs. 3 per liter beginning on November 1. This decline is a reaction to modest drops in world oil prices during the past two weeks.
International gasoline and HSD prices fell by about $1.5 and $2.5 per barrel, respectively, according to sources. In light of tax laws and exchange rates, petrol prices might drop by Rs. 3 per litre, while HSD prices might drop by roughly Rs. 2.30 per litre.
After the government issues a formal notification, these new tariffs will go into effect.
HSD is currently trading around $84 per barrel, down from $86.5, while gasoline is trading at roughly $76 per barrel, down from $77.5. The exchange rate and the additional import prices for gasoline and HSD have not changed, therefore pricing fluctuations are mostly attributable to the decline in the price of crude oil.
Petrol costs Rs. 243.03 per liter before distribution, whereas HSD costs Rs. 251.29 per liter.
The government kept petrol prices at Rs. 247.03 till the end of October, but increased diesel costs by Rs. 5 per litre in the middle of the month.
Currently, taxes on gasoline and HSD bring in about Rs. 76 per liter for the government.
This comprises customs charges of Rs. 16 per litre and a Petroleum Development Levy of Rs. 60 per litre. In order to pay for distribution and sales expenses, oil corporations and dealers also receive about Rs. 17 per liter.
