Petrol price cut by 43 paise, HSD’s up by Rs3.47

The Petroleum Division has raised the high speed diesel (HSD) price by Rs3.47 per litre for September 18, while petrol eases by 43 paise, according to Business Recorder. Under the official notification, the ex-depot rate for petrol now stands at Rs390.79 per litre, down from Rs391.22, and HSD has climbed to Rs424.92 per litre.

The Oil and Gas Regulatory Authority (OGRA) worked out the new rates by averaging the Platts Arab Gulf Means quotations over the past seven working days. Petrol averaged USD 131.33 per barrel on September 18, against USD 124.75 for HSD over the same period. Imports of refined products supply more than 80 percent of the country's fuel needs.

A Petroleum Division notification indicates that most levies and margins are broadly unchanged for both fuels. The Petroleum Levy stays at Rs80 per litre and the Climate Support Levy at Rs5 for both fuels, while dealer and oil marketing company margins remain at Rs9.98 and Rs7.87 per litre. The import cost of HSD rose to Rs318.05 per litre, whereas petrol's import cost was fixed at Rs280.33 per litre.