Desk
ISLAMABAD: Consumers can expect a significant reduction in fuel prices starting Saturday, February 15, as petroleum rates are projected to decrease by Rs2.50 to Rs9 per litre for the next fortnight, ending February 28. The price cuts are attributed to a decline in international oil prices.
According to industry insiders, the ex-depot price of petrol is expected to drop by Rs2 to Rs2.50 per litre, while high-speed diesel (HSD) may see a more substantial reduction of around Rs9 per litre. The prices of kerosene and light diesel oil (LDO) are also estimated to decline by Rs3.45 to Rs5 per litre.
This downward trend follows a decrease in global crude oil prices. Brent crude, the international benchmark, fell by $2 per barrel in the past fortnight. Meanwhile, the average international price of HSD dropped by $3 per barrel, and petrol prices declined by approximately 90 cents per barrel. The ex-refinery costs of kerosene and LDO also saw a decline. Additionally, the import premium on petrol fell to $7.75 per barrel from $8.80, while the premium on diesel remained unchanged.
Pl Subscribe to our YouTube Channel:
If these estimates hold, the price of HSD could drop by Rs9 per litre, petrol by Rs2.50 per litre, kerosene by Rs3.50 per litre, and LDO by Rs5 per litre by February 29.
Currently, the ex-depot price of petrol stands at Rs257.13 per litre, while HSD is priced at Rs267.95 per litre. Kerosene’s official rate is Rs174.85 per litre, but in the open market, it is often sold for Rs300 to Rs350 per litre.
Pl visit our website for more info:
Petrol is primarily used in private transport, including small vehicles, motorcycles, and rickshaws, making any price change directly impactful for middle- and lower-income groups. HSD, on the other hand, fuels the majority of the transport sector, including trucks, buses, trains, and agricultural machinery. Its price fluctuation significantly influences overall inflation, particularly affecting the cost of food and essential goods.
