Islamabad (LTN NEWS): In the event that the government decides to raise the PDL, it is anticipated that the price of gasoline would be Rs. 15 per litre, and the price of diesel will be Rs. 23 per litre.
In spite of the fact that the prices of petroleum products and crude oil have stayed relatively unchanged, it is possible that on August 1, 2022, there will be a rise in the price of gasoline and diesel between Rs10 and Rs17 per litre. Despite this, estimates of the growth have been revised upwards simply due to the fact that the currency rate has been acting irrationally.
It has been anticipated that the price of petrol will go up by Rs. 10 and the price of diesel will go up by Rs. 16-17, and this estimate was made without taking into account the petroleum levy (PL). And in the event that the government decides to raise the petroleum levy by 5 rupees per litre on the price of gasoline, the price of Mogas has been estimated to rise to 15 rupees per litre, while the price of diesel is expected to rise to 23 rupees per litre.
The anticipated increase in POL prices has also been calculated without the inclusion of an increase in dealers’ margins (DMs) on POL price that was approved by ECC here on Thursday. This increase was for 2.10 rupees per litre on petrol and 2.87 rupees per litre on diesel, bringing both prices to 7 rupees per litre. And if there is a rise of Rs2.10 in the price of petrol, then the price of a litre of petrol may go up to Rs17.10, and if there is an increase of Rs2.87 in the price of diesel, then the price could go up to Rs25.87.
In addition, the increase in dealers’ margin will go into effect beginning on August 1, 2022, provided that the federal cabinet gives its blessing to this decision within the next two days.
According to sources from the manufacturing industry, the value of the US dollar has increased by Rs40 so far this month. The current exchange rate against the US dollar is Rs239.9427, while the rate on the open market is Rs246.15. On the other hand, they stated that the precise costs of gasoline and diesel will be dependent on the currency rate that is in effect today (Friday).
Consumers in Pakistan will not be able to enjoy the dividends from the recent drop in the price of crude oil, which as of today (Thursday) has settled at $99.4 per barrel, according to independent industry experts. Instead, they will have to deal with an increase in the price of POL as a result of the rising exchange rate.
In spite of this, the government appears to be leaning more toward imposing a PL of Rs5 per litre on both gasoline and diesel fuel since it is vital to send a signal to the IMF.
