- Diesel and gasoline prices may rise at 53 and 18 rupees per liter, respectively.
- Ex-depot price of high speed diesel fuel (HSD) will cost 257.14 rupees per liter. for pair of weeks.
- The government has raised the price of diesel and petrol by Rs 30 per litre. first in last a week of May.
KARACHI: diesel and gasoline prices may rise 53 and 18 rupees per liter, respectively, if government passes on in full influence of global oil markets to consumers, effectively eliminating the subsidy in attempt to repay the IMF loan, News This was announced on Tuesday by representatives of the industry.
According to the calculations of the oil sector, the former base price of high speed diesel fuel (HSD) will cost 257.14 rupees per liter. for pair of weeks starting June 15, 2022, up from 204.15 rupees per liter on June 1, 2022, Rs 52.99 increase.
former depot price of Gasoline was calculated at 227.8 rubles / liter. for in next two weeks compared to Rs 209.87 per litre. on June 1, 2022, Rs 18.01 difference. These calculations for in next two weeks founded on exchange rate of Rs 201.89/dollar, up from Rs 200.89/dollar in the previous two weeks, which is 0.79 percent increase.
If a government keeps diesel and gasoline prices at June 1 levels for in next two weeks, he will have to bear the subsidy of Rs 52.99/liter on diesel fuel and 18.01 rupees per liter. on gasoline, according to representatives of the oil sector.
To qualify for in next tranche of $1 billion under the Expanded Financing Facility (EFF) signed former led by PTI government with IMF, federal government an increase in the price of diesel fuel and gasoline by 30 rupees / liter each, first in in last a week of May and then in in first a week of June of this year, canceling the subsidy total of 60 rupees/liter for both fuels.
Despite this, government continues to subsidize gasoline at Rs 9.3 per liter and diesel at Rs 23.05 per liter. Prices of gasoline and diesel were already frozen by that time prime minister Imran Khan on February 28, 2022, until next fiscal year. current administration claimed that policy before last a week of May.
However, due to rising global oil prices and a heavy burden on in national Treasury Department, policy was forced to reconsider. Oil sector of the country also urged government remove fuel price the cap that caused liquidity problems for oil companies due to delayed PDC payments (price differential requirements).
