Following the recent formation of a new elected government and federal cabinet, it appears that petroleum prices in Islamabad are likely to remain unchanged for the next two weeks, beginning March 16, 2024. This decision is anticipated due to stable fuel costs in the international market, although there may be a marginal increase of Rs1.07 per litre in petrol prices if exchange adjustments are factored in.
A senior official from the Energy Ministry suggested that the government might opt to keep fuel prices steady, considering the modest increase in petrol rates. Diesel prices, however, are expected to decrease by Re0.82 per litre, while kerosene prices may also see a decline of Re0.94 per litre.
Premium prices for petrol and HSD (High-Speed Diesel) are reported to be $12.15 per barrel and $6.50 per barrel, respectively. Despite this, the ex-refinery price of petrol is anticipated to rise slightly, while diesel prices are expected to decrease marginally.
Currently, the government imposes a petroleum development levy (PDL) of Rs60 per litre on petrol and HSD. Additionally, consumers incur charges of Rs5.69 per litre on petrol as IFEM (Internal Freight Equalization Margin), along with OMCs (Oil Marketing Companies) and dealers margins of Rs7.87 per litre and Rs8.64 per litre, respectively. Similarly, a PDL of Rs60 per litre is applied to HSD, along with IFEM, OMCs margin, and dealers margin charges for HSD consumers.
