Petroleum prices
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Petroleum Prices: During the latter half of December 2023, the per-litre cost of petrol is anticipated to decline by Rs 13.10, with high-speed diesel (HSD) expected to experience a Rs 13.66/litre reduction, according to sources in Islamabad.

Sources suggest a substantial decrease in the prices of all petroleum products in the second part of December 2023. Petrol prices are projected to drop from Rs 281.34/litre to Rs 268.24/litre, reflecting a cut of Rs 13.10/litre. Similarly, the price of HSD/diesel is likely to decrease from Rs 289.71/litre to Rs 276.05/litre, indicating a reduction of Rs 13.66/litre. Additionally, the price of kerosene oil is expected to decline by Rs 8.36/litre, moving from Rs 201.16/litre to Rs 192.80/litre. Furthermore, the price of light diesel oil (LDO) is poised for a reduction of Rs 10.23/litre, going from Rs 175.93/litre to Rs 165.70/litre. These calculations are based on current government taxes and exclude exchange adjustments, as per the sources.

It’s important to note that as of December 1, 2023, the government is levying a petroleum levy (PL) of Rs 60/litre on petrol and diesel, along with Inland Freight Equalization Margin (IFEM) of Rs 7.71/litre on petrol and Rs 0.60/litre on diesel. The current rate of Dealers’ Margin on petrol and diesel is Rs 8.65/litre, while Oil Marketing Companies have a margin of Rs 8.25/litre effective from December 1, 2023.

Petroleum prices,petrol prices

On December 1, the government maintained the petrol price at Rs 281.34/litre, reduced the HSD price by Rs 7/litre, and saw a decrease of Rs 3.82/litre in the price of kerosene oil. Additionally, the government approved a Rs 4.52/litre reduction in the price of LDO for the first half of December 2023.


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