KARACHI: The Pakistani government is expected to announce a cut in petrol prices today for the second time this month, following a cut in ex-depot prices of petrol, JEE News reported on Thursday.
Informed industry sources, however, said diesel prices are likely to increase by Rs 5 per liter in today’s fortnightly price review, effective from June 16.
If the government keeps the exchange rate adjustment at zero, the price of petrol is likely to fall from Rs 10 to Rs 5.
According to industry work, the ex-depot price of High Speed Diesel (HSD) is estimated to increase by Rs 3.29 per liter from Rs 253 per liter to Rs 256.29 per litre.
Industry insiders said that in the last price review, the government had adjusted the price of diesel by only Rs 0.13. If it is adjusted to Rs 3-4 in today’s review, the price may increase by Rs 5 per litre.
Calculations show that the ex-depot price of petrol has come down from Rs 1.87 per liter to Rs 260.13 per liter from Rs 262 per litre. Similarly, the ex-depot price of light speed diesel may go up by Rs 2.48 to Rs 150.16 per liter from Rs 147.68 per litre.
The price of kerosene may rise by Rs 2.10 to Rs 166.17 per liter from Rs 164.07 per liter in the next fortnight.
According to sources, the exchange rate for the next price review is also showing an upward trend as it has increased by Rs 0.63 to Rs 286.69 per liter against the dollar from Rs 286.06 per litre.
He said that the industry action is temporary and whether the government will go with the actual difference in the prices of petroleum products or adjust the prices, it can be known only when the government takes its final decision.
When asked about crude oil imports from Russia and its impact on petroleum product prices in the next fortnight, he said it would not have any impact on today’s price review as it had recently shipped to Pakistan. was given, and the processing of this crude oil began on Wednesday.
Refined products from Russian crude will reach the market in two weeks. However, he said that even after the supply of these products, there may not be any significant impact on the domestic prices in the market due to the small quantity compared to its consumption in the country.
He noted that even after the arrival of the second cargo on June 20, it will not have any impact on consumer prices until the share of Russian crude in total crude oil imports exceeds 30 percent.
