Petrol price hiked by Rs2.10, HSD’s by 30 paise
ISLAMABAD: The Petroleum Division on Friday announced increase in fuel prices applicable during next three days i.e. October 3-5. According to an official notification, the ex-depot price of petrol has been increased by Rs2.10 per litre, moving from Rs390.66 to Rs392.76. Similarly, the price of High Speed Diesel (HSD) saw a nominal increase of 30 paise per litre, taking its price from Rs399.34 to…
On October 3-5, the Petroleum Division raised fuel prices for the coming three days, as announced in an official notification. The ex-depot price of petrol rose from Rs390.66 to Rs392.76 per litre, a hike of Rs2.10. High Speed Diesel (HSD) saw a modest increase, climbing from Rs399.34 to Rs399.64 per litre, a 30 paise surge. Beyond the base rate increase, the Inland Freight Equalisation Margin adjustment played a key role.
For petrol, IFEM rose from Rs7.91 to Rs8.02 per litre, while HSD's IFEM increased from Rs4.19 to Rs4.75 per litre. The Oil and Gas Regulatory Authority (OGRA) attributes the price hike to global events, including changes in Platts rates, premiums, and incidentals. Over the past week, the average petrol price climbed to USD 130.17 per barrel, up from USD 129.01 on October 2.
Conversely, HSD's average price fell to USD 109.95 per barrel, down from USD 110.68. Import costs for both products saw adjustments: petrol's import cost increased to Rs281.89 per litre from Rs279.90, while HSD's import cost decreased to Rs292.04 per litre from Rs292.34. Government levies and profit margins for both fuels stayed the same.
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