Prices of other petroleum products, such as kerosene oil and light diesel oil (LDO) are also likely to increase along with diesel.
According to oil industry projections, the ex-depot price of petrol (PMG) may fall by Rs1.96 per litre to Rs263.49, marking a 0.7% decrease. The price of high-speed diesel (HSD) is expected to rise by Rs9.60 per litre to Rs288.04, a 3.4% increase.
Similarly, the price of kerosene oil is projected to jump by Rs8.82 to Rs193.87, while LDO could increase by Rs7.15 to Rs171.13 per litre.
These prices also include premiums, with petrol carrying $5.10/bbl on its import and HSD $3.20/bbl. The exchange rate has remained unchanged, while Platts market data for the remaining two days will finalise the government’s decision.
The revised prices also reflect higher taxes, with consumers paying Rs80.52 per litre in petroleum levy and carbon tax on petrol, and Rs79.51 on HSD.
HSD is widely used in the agriculture and transport sectors, therefore, revision in its price will have a significant impact on consumers.
Petrol is used in motorbikes and cars. It is also considered to be an alternate to the CNG in vehicles especially in Punjab where indigenous gas is not available for the CNG stations. Kerosene oil is primarily used in remote areas, particularly in the northern part of the country, where LPG is not available for cooking purposes.