The prices of petrol and high-speed diesel (HSD) are estimated to go up by Rs5-9 per litre on Jan 31 for the next fortnight owing to higher international prices and import premiums, nullifying an impact of minor exchange rate gains.
Informed sources said the prices of both major petroleum products – petrol and HSD – had increased in the international market over the past fortnight and Pakistan State Oil (PSO) also had to pay higher import premiums even though the rupee had gained against the US dollar.
As a result, the price of HSD will go up by Rs4-6 per litre and that of petrol will rise between Rs6.5 to 9 per litre, depending on the final exchange rate calculation. The prices of Kerosene and light diesel oil are also expected to remain unchanged.
Officials said the price of petrol had come down by more than $3 per barrel to $86.5 from $83 per barrel over the last two weeks while HSD had become costlier by about $2 per barrel to $97.5 from about $95.6. The rupee on the other hand gained by about Rs1.5 against the dollar to about Rs280 from Rs281 in the first half of January. The premium paid by PSO for securing product cargoes went up on both products by $2 per barrel each. It increased to $6.5 per barrel from $4.2 for HSD and from $7.5 per barrel to $9.5.
