According to Oil prices forecasts, the petrol price in Pakistan are expected to go down approximately Rs. 7.50 per liter and the price of HSD might decrease by Rs. 12.37 per liter for the second half of December 2022.
Energy experts have forecasted that the ample supply of petroleum and High Speed Diesel might result in a decrease in the prices of both the products. This is only possible if the government does not increase the Petroleum Levy (PL) and avoids adjusting arrears of exchange loss on the Free on Board (FoB) basis.
According to sources, the price of petrol might see a decrease from Rs. 224.80 to Rs. 217.30 per liter, which is an approximate reduction of Rs. 7.50 per liter. Similarly, High speed diesel might get cheaper by Rs. 12.37, which will result in a new price of Rs. 222.93 per liter from the old price of Rs. 235.30.
Petroleum Levy
This sounds like a good news but it might just not happen. As per the sources in the Petroleum Division, the government will increase the Petroleum Levy on diesel and adjust arrears. This will diminish any chances of the petroleum and High Speed Diesel prices coming down. The government is in an agreement with the International Monetary Fund (IMF) to impose General Sales Tax (GST) on all petroleum products once they reach the maximum limit on Petroleum Levy, which is Rs. 50 per liter on each petroleum product.
Petroleum Levies for petrol are currently 50 rupees per liter, for HSD 25 rupees per liter, for SKO 7.01 rupees per liter, and for LDO 15.39 rupees per liter. A commitment has been made by the government with the International Monetary Fund (IMF) to increase the PL on HSD by April 2023 to Rs50.
Current Petrol Prices
The current fuel prices in Pakistan are:
Petrol = Rs. 224.80/liter
high-speed diesel (HSD) = Rs. 235.30/liter
Light Diesel Oil (LDO) = Rs. 186.50/liter
Kerosene Oil = Rs. 191.83/liter
