Petrol prices in Pakistan have increased by more than Rs. 25 per liter over the past 10 days despite a decline in global crude oil prices, widening the gap between international market trends and domestic fuel costs.
The government on Tuesday increased the price of petrol by another Rs. 1.63 per liter, taking it to Rs. 335.81 per liter. High-speed diesel was also raised by Rs. 1.55 per liter to Rs. 388.38 per liter.
Since July 17, petrol prices have climbed by Rs. 25.10 per liter from Rs. 310.71, while high-speed diesel has surged by Rs. 65.08 per liter from Rs. 323.30 following the introduction of Pakistan’s daily fuel pricing mechanism.
The increase comes even as international crude oil prices moved lower. Brent crude declined from around USD 88 per barrel on July 17 to about USD 83 per barrel, while US West Texas Intermediate crude fell from USD 82.49 to USD 78.51 per barrel during the same period.
Global refined fuel prices remained volatile over the period. Gasoline prices rose from USD 101 per barrel on July 17 to a peak of USD 118 before easing to around USD 110. Diesel prices increased from USD 142 per barrel to as high as USD 169 before falling to USD 150.58 per barrel.
The government currently collects Rs. 80 per liter in petroleum levy and Rs. 5 per liter in climate support levy on petrol. Consumers also pay Rs. 15 per liter in customs duty, while oil marketing companies receive a margin of Rs. 8.64 per liter and dealers receive Rs. 7.87 per liter.
On high speed diesel, the government collects Rs. 70.82 per liter in petroleum levy, Rs. 5 per liter in climate support levy, Rs. 15 per liter in customs duty, along with fixed margins for oil companies and dealers.
The post Here’s How Much the Petrol Price Has Increased in Pakistan in 10 Days appeared first on ProPakistani.
