On February 16, 2024, the Pakistani government is expected to raise the cost of high-speed diesel (HSD) by Rs. 8 per liter.
The confirmation of the judgment is pending changes to exchange and premium rates, which could occur tomorrow.
The suggested changes could result in an increase in the price of HSD from Rs. 285 to Rs. 293 per liter. These computations are based on the existing general sales tax and petroleum levy rates for the new fortnight beginning on February 16.
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The government may raise the price of light diesel oil (LDO) by Rs. 2.50 per liter while keeping the price of kerosene oil (kero) unchanged.
MS gas prices are probably not going to change for the next two-weekly review.
Additionally, according to market trends, the price of Brent will rise to $83 per barrel, an increase of almost $1.5. Notably, throughout that same time period, the price of HSD rose by about $3 per barrel.
It’s important to note that Pakistan State Oil (PSO) recently paid a premium of $9.43 a barrel for gasoline, which is a little less than the $9.47 premium from the previous two weeks. In a similar vein, the premium for HSD is $6.50 per barrel. Furthermore, a projected adjustment to the exchange rate of 50 paisas for fuel and Rs. 1.70 per liter for HSD is expected.
In Pakistan, the cost of petroleum has remained high for most of the current fiscal year. Petrol prices climbed by Rs. 13.55 per liter to Rs. 272.89 on January 31, 2024, while high-speed diesel prices increased by Rs. 2.75 per liter to Rs. 278.96.
For more news, visit the Al Sadat Marketing Website.
