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Petrol Prices may Fall by Rs2.86 in Pakistan

Petrol Prices may Fall by Rs2.86 in Pakistan

Petrol Prices may Fall by Rs2.86 in Pakistan

Petrol Prices may Fall by Rs2.86 in Pakistan

Given the shifting global oil prices, the cost of gasoline may decrease, while the cost of high-speed diesel (HSD) is anticipated to increase over the next two weeks starting on November 1, 2022.

According to the Platts Exchange Rates Methodology (PERM), the cost of HSD could go up by Rs3.70 per litre while the cost of gasoline could decrease by Rs2.86.

The projections are based on current government taxes and an exchange loss adjustment for Pakistan State Oil (PSO).

PSO is asking for an adjustment for exchange losses of Rs. 6 per litre for gasoline and Rs. 5 per litre for HSD. Due to fluctuations in the import of gasoline and HSD caused by currency rates, these modifications are being requested.

HSD is used in the transportation and agricultural industries, so a change in price will directly affect consumers. There is no possibility of a GST imposition rise or decrease affecting the suggested modifications.

Officials further noted that in order to enhance money from the sale of this product, the government may maintain the price of gasoline unchanged while raising taxes on it.

The officials also said that the price of HSD may rise from Rs235.30 to Rs239 per litre, or by about Rs3.70.

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