Relieved sigh: Pakistan’s gasoline price is anticipated to decrease by Rs9.62
After a reduction of Rs9.62 per litre on September 16 (Friday), the price of mogas is projected to fall from Rs235.98 per litre to Rs226.36 for the following two weeks.
Nevertheless, a marginal price increase of Rs3.04 per litre is anticipated for diesel, bringing the price for the specified period from Rs247.26 per litre to Rs250.30.
Industrial sources reported that, for the period of September 1 through September 15, the average Platts price for motor spirit fell by Rs9.55 to Rs92.28 from Rs101.83. However, when compared to the exchange rate that was recorded between August 16 and 31, the rate stayed on the higher side
The price of one litre of gasoline in the refinery dropped by Rs7.84 per litre to Rs166.76 from Rs174.61 per litre, and customs duty remained unchanged at Rs15.39 per litre.
According to The News, the price of one litre of gasoline ex-refinery is expected to fall by Rs9.62, to Rs173.43 from Rs183.04 per litre.
Regarding diesel, the cost and freight in dollars increased even though the average Platts price for diesel decreased for the period of September 1–15 by Rs6.46 per litre to Rs133.93 from Rs140.38 per litre. A similar increase of Rs7.87 was seen in the exchange rate, which remained higher than average at Rs225.63 compared to the Rs217.81 recorded during the period of August 16–31.
The price of one litre of diesel in a refinery will rise by Rs1.57 to Rs224.57 from Rs223 due to the anticipated increase in customs duty on HSD of Rs3.37 to Rs22.11 per litre from Rs18.74.
Additionally, the ex-refinery price of diesel is predicted to rise by Rs3.04 per litre to Rs231.90 from an earlier Rs228.87 per litre following the PSO exchange adjustment.
The distribution margin for gasoline and diesel, however, is Rs3.68 per litre and Rs7 per litre for end users. The petroleum levy is charged at Rs. 37.50 per litre for gasoline and Rs. 7.50 for diesel.Inland Freight Equalization Margin (IFEM) is charged at Rs4.76 per litre for gasoline and Re0.21 for diesel. In order to raise Rs855 billion in 2022–2023, the coalition government is required under the IMF programme to increase the petroleum tax by up to Rs50 on both gasoline and diesel.
