Islamabad (LTN NEWS): The price of high-speed diesel will rise by around Rs 8 per liter this weekend, while petrol by around Rs 11 per liter due to the International Monetary Fund’s (IMF) outstanding pre-condition for an increase in the Petroleum Development Levy (PDL). Liters are likely to be cheaper.
The prices of the two major petroleum products were set to come down significantly from August 1, but factors such as the depreciation of the rupee and increase in PDL and dealer commissions have led to lower prices for consumers internationally, senior government officials said. Deprived of the benefit.
These officials said the government has made a pre-emptive commitment with the IMF to increase the levy on high-speed diesel, kerosene, and light diesel oil by Rs 10 per liter and Rs 5 per liter on petrol.
In order to ensure a uniform rate of Rs 15 per liter on all products from the beginning of August, currently, the levy on petrol is Rs 10 per liter and on high-speed diesel, kerosene and light diesel oil are Rs 5 per liter.
Based on the impact of international import price and exchange rate, the price of high-speed diesel was estimated to decrease by about Rs.3.30 per liter and petrol price by about Rs.19 per liter.
Due to an increase of Rs 2.87 per liter, the rate of high-speed diesel will instead increase by around Rs 8 per liter.
On the other hand, after the increase in levy by Rs 5 per liter and the negative adjustment of Rs 2.10 pause per liter, the price of petrol will still be lower by around Rs 11 per liter.
Thus, the ex-depot sale price of high-speed diesel is likely to be around Rs 244 per liter for the first 15 days of August instead of Rs 236 per liter at present, while the price of petrol will be around Rs 219 per liter instead of increasing from Rs 230 per liter.
