ISLAMABAD: The federal government is considering keeping the petrol price steady while planning a modest reduction in the ex-depot price of high-speed diesel (HSD) effective October 1, 2024.
Due to the current rates of the petroleum levy (PL) and general sales tax (GST) on petroleum products, the government expects that petrol prices will likely remain unchanged.
However, there is a chance that prices for HSD, kerosene oil, and light diesel oil (LDO) may decrease in the first half of October 2024.
The government recently reduced the petrol price by Rs 10 and the HSD price by Rs 13.06 per litre.
The petrol premium is currently set at $8.768 per barrel, while the HSD premium is $5 per barrel, with minimal adjustments in the exchange rate.
Estimates suggest that the petrol price will likely hold at Rs 249.10 per litre. HSD prices may drop by Rs 2.11, changing from Rs 249.69 to Rs 247.58 per litre. Kerosene oil prices could also see a reduction of Rs 3.23, from Rs 158.47 to Rs 155.24 per litre.
Likewise, LDO prices may decrease from Rs 141.93 to Rs 141.04 per litre. These estimates are subject to fluctuations in the global oil market.
