KARACHI: Despite decline in worldwide oil prices, the prices of petroleum products in Pakistan are likely to remain unchanged for the first fortnight of January 2023 owing to certain constraints.
According to a report published online today, based on existing rates of petroleum levy (PL) and general sales tax (GST), IFEM margin, there is 46 paisa reduction in petrol and 92 paisa in HSD price with effect from January 1, 2023.
The expected claim exchange loss of PSO is Rs 5.50 per litre on petrol and Rs 3.50 per litre on HSD.
The price of kerosene oil (SKO) is likely to increase by Rs 6.73 per litre and Rs 4.08 per litre raise in light diesel oil (LDO).
In case, the government decides to raise the price, the price of SKO will go up from, Rs 171.83 to Rs 178.56 per litre and price of LDO will also go up from Rs 169 to Rs 173.08 per litre. The exchange rate of the rupee against the US dollar increased by Rs 1.11 from Rs 224.51 to Rs 225.62.
It is pertinent to mention here that total petroleum products’ sales registered decline of 12% on year to year basis, at 1.55 million tons in November 2022, amid overall economic slowdown, higher petroleum prices and lower FO-based power generation.
