Govt to keep petrol prices steady.

Govt to keep petrol prices steady.

A new government and cabinet in Islamabad are expected to keep petrol prices the same for the next two weeks starting March 16, 2024, as reported by The News. This decision may be influenced by stable international fuel costs.

However, considering possible exchange rate adjustments, petrol prices might increase by Rs1.07 per litre to Rs280.82, up from Rs279.75. A senior Energy Ministry official suggested the government might avoid raising prices due to the slight increase in petrol cost.

Diesel prices are anticipated to decrease by Re0.82 per litre to Rs286.51, and kerosene may drop by Re0.94 per litre to Rs189.07.

The premium on petrol and HSD (High-Speed Diesel) stands at $12.15 and $6.50 per barrel respectively. The ex-refinery price of petrol may rise to Rs197.30, while diesel may decrease to Rs206 per litre.

Currently, the government imposes Rs60 per litre as petroleum development levy (PDL). Consumers also pay additional charges including IFEM (Internal Freight Equalization Margin), OMCs (Oil Marketing Companies) margin, and dealers margin. HSD consumers pay similar charges along with the Rs60 per litre PDL on HSD.

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