Diesel rises by Rs5.71 per litre, petrol edges up

ISLAMABAD:

The government on Monday increased the price of high-speed diesel (HSD) by Rs5.71 per litre while reducing the price of petrol by 35 paisas per litre, with the revised rates taking effect from July 21 following the weekly review of petroleum prices.

According to a press release issued by the Ministry of Energy's Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the federal government's updated petroleum pricing mechanism.

Under the new rates, the price of high-speed diesel has been increased from Rs354.35 per litre to Rs360.06 per litre, reflecting an increase of Rs5.71. Meanwhile, the price of motor spirit (petrol) has been reduced from Rs316.15 per litre to Rs315.80 per litre, a decrease of 35 paisas.

The latest revision comes after the government on Friday increased the price of high-speed diesel by Rs31.05 per litre and petrol by Rs5.44 per litre for the three days from July 18 to July 20.

The government is currently charging a petroleum levy (PL) of Rs70.82 per litre on retail sales of high-speed diesel and Rs79.46 per litre on direct sales, in addition to a Climate Support Levy (CSL) of Rs5 per litre. It is also charging a petroleum levy of Rs80 per litre and a CSL of Rs5 per litre on petrol sold through retail outlets.

A petroleum levy of Rs105 per litre is also being charged on HOBC (97 RON) and MS (95 RON), while the levy on superior kerosene oil and light diesel oil stands at Rs20.36 per litre and Rs15.84 per litre, respectively, with no Climate Support Levy applicable to either fuel for retail sales.

The petroleum levy on furnace oil stands at Rs77 per litre (Rs82,077 per metric tonne) for both retail and direct sales, along with a Climate Support Levy of Rs5 per litre (Rs5,330 per metric tonne).

High-speed diesel is widely used in the transport and agriculture sectors. The reduction in its price will help ease inflationary pressure on consumers.

Petrol is primarily used by motorcycles and cars. Owing to the ban on the use of indigenous gas in Punjab, demand for petrol has increased.

Kerosene oil is used in remote areas, particularly in the country's northern regions, where liquefied petroleum gas (LPG) is unavailable for cooking purposes.