ISLAMABAD: Following the creation of a new elected administration and a new federal cabinet earlier this week, it is expected that the setup in Islamabad would keep current petroleum prices in place for the next two weeks, beginning March 16, 2024, according to The News.
The likelihood of price stability may also be influenced by the worldwide market’s unchanging cost of fuel.
However, if the potential variance following the exchange adjustment is considered, the price of fuel is expected to rise by Rs1.07 per liter to Rs280.82 from the current Rs279.75 per litre.
A senior Energy Ministry official informed the publication that the new government may embrace the option to avoid increasing fuel prices by March 16 because the increase in petrol price has been “meagre”.
According to The News, diesel prices are projected to fall by Re0.82 per litre to Rs286.51 from Rs287.33 per litre during the next two weeks, while kerosene prices may fall by Re0.94 per litre to Rs189.07 from Rs190.01 per litre.
The premium for gasoline appears to be $12.15 per barrel, whereas that for HSD is $6.50 per barrel.
However, the ex-refinery price of petrol is expected to rise to Rs197.30 from Rs196.23 per litre, while diesel may fall from Rs206.82 to Rs206 per litre.
Currently, the government charges Rs 60 per liter of petrol as a petroleum development levy (PDL).
