Petrol price cut by Rs3.63, HSD’s hiked by 31 paise
ISLAMABAD: In its daily revision, the government on Thursday announced fuel prices for October 16. As per a notification, the price of petrol has been reduced by Rs3.63 to Rs390.23 per litre from Rs393.86. However, the price of High-Speed Diesel (HSD) saw a slight increase of 31 paise, bringing its price to Rs396.96 per litre. During the last seven days, the average refined petrol price has…
The government in Islamabad announced fuel prices for October 16 in its daily revision. The price of petrol decreased by Rs3.63 to Rs390.23 per litre, while High-Speed Diesel (HSD) saw a slight increase of 31 paise, now costing Rs396.96 per litre. The average refined petrol price dropped to USD 127.24 per barrel in the last seven days, compared to USD 129.31 per barrel on October 15.
HSD prices rose to USD 108.53 per barrel from USD 108.43. These price changes were prompted by global events, including adjustments in Platts rates, premiums, and incidentals. The import cost of petrol fell to Rs279.45 from Rs283.08, whereas HSD prices went up to Rs289.40 from Rs289.09. The government maintains the same profit margins and Petroleum and Climate Support Levies for both fuels.
The Inland Freight Equalisation Margin (IFEM) remains at Rs7.93 per litre for petrol and Rs4.71 per litre for HSD.
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