Petrol and high-speed diesel (HSD) prices in Pakistan are expected to decrease by Rs8 to Rs10 per litre on November 15, influenced by a drop in international market prices.
Despite the decline in global prices for both HSD and petrol over the past two weeks, the depreciation of the rupee against the dollar has offset some consumer benefits. HSD has become approximately $9 per barrel cheaper on average, while petrol has seen a $1 reduction.
The government, constrained by a maximum petroleum development levy (PDL) limit of Rs60 per litre, aims to collect Rs869 billion in PDL for the fiscal year, in line with commitments to the International Monetary Fund (IMF).
Despite fluctuations, PDL collection exceeded Rs222 billion in the first quarter ending Sept 30, 2023. High petrol and HSD prices have contributed to a 27% inflation rate in October. The government charges around Rs80 per litre in taxes on both petrol and HSD, with additional levies and duties.
