According to industry projections, the ex-depot cost of petrol has declined by Rs7.24 per litre to Rs230.19 per litre for the upcoming fortnight from the current price of Rs237.43 per litre, as reported by The News.
Considering recent reports, this might lead to a fall in the price of petrol by Rs7.24 per litre and diesel by Rs16.61 per litre in Pakistan at the upcoming fortnightly review if the government does not raise taxes to offset the effects of the declining worldwide market.
Expected new prices
In comparison to the present price of Rs247.43 per litre, the ex-depot price of diesel has fallen by Rs16.61 to Rs230.82 per litre for the upcoming two weeks.
In comparison to the current fortnight, the ex-depot price of light diesel decreased by Rs10.87 to Rs186.41 per litre.
Kerosene’s ex-depot price fell from Rs197.28 per litre to Rs187.82 per litre, a decrease of Rs14.20.
The oil sector bases its prices on the current taxes levied by the government. Petroleum goods are exempt from general sales tax (GST), which is charged at a rate of Rs37.42 for petrol and Rs7.58 for diesel per litre.
There has been a considerable decline in international oil prices, but it is unclear if the government would pass the impact through to the public or offset it by increasing taxes.