By SKM
January 14, 2025
ISLAMABAD: Mainly in the wake of new US sanctions on Russian oil transportation to China and India, the price of petrol is likely to increase by Rs3.35 per liter and high speed diesel (HSD) by Rs3.66 per liter from tomorrow (Thursday) for next fortnight.
In the wake of the US sanctions, crude oil price surpassed $81 per barrel, the highest since August 2024, driven by fears of US shipping sanctions affecting Russian oil supplies.
“The hike in Kerosene oil by Rs4.98 per liter and Light Diesel Oil (LDO) by Rs6.20 per liter has been worked out, but the ultimate decision rests with the decision-makers in the Finance Ministry,” the relevant officials told Exclusivewaves.com.pk.
The new price of petrol has been estimated at Rs172.13 per liter from the existing price of Rs168.60 showing an increase of Rs3.53 per liter. Likewise, the new price of diesel (HSD) has been projected at Rs262 per liter from the existing Rs258.34 per liter showing a hike of Rs3.66 per liter.
Kerosene oil is expected to settle at Rs167.93 from the existing Rs162.95 with an increase of Rs4.98 per liter. Interestingly the new price of LDO is being projected at Rs155.55 with a maximum increase of Rs6.20 per liter. Apart from Rs60 per liter as petroleum levy on Mogas and Diesel, the government is currently charging Inland Freight Equalization Margin (IFEM) of Rs7.55 per liter on Mogas and Rs4.15 on diesel. The premium seems stable on Mogas at Rs8.44 per barrel. Ends
