Petrol price cut by Rs1.70, HSD’s by Rs3.12

Business Recorder reported that the Petroleum Division has lowered ex-depot rates for petrol and high-speed diesel effective September 23. Petrol now costs Rs392.05 per litre after a reduction of Rs1.70, while HSD has dropped by Rs3.12 to Rs418.96 per litre. The revisions track volatile global crude quotations tied to the Middle East situation.

The Oil and Gas Regulatory Authority based the figures on a rolling average of Platts Arab Gulf Means quotations across seven working days. Over that window the average petrol price eased to USD 132.30 per barrel from USD 133.27 on September 22, while diesel slipped to USD 121.34 from USD 123.12. Refined imports make up over 80 percent of national consumption.

Levies and margins were largely unchanged, so the adjustment is reflected in import costs: petrol's import cost dropped from Rs283.19 to Rs281.49 per litre, while HSD's fell from Rs315.17 to Rs312.05 per litre. The Petroleum Levy stays at Rs80 per litre and the Climate Support Levy at Rs5, while dealer margins are Rs9.98 per litre and oil marketing company margins Rs7.87. Customs duties are unchanged at Rs23.68 per litre for petrol and Rs15.68 per litre for HSD, with the Inland Freight Equalisation Margin (IFEM) set at Rs7.71 and Rs4.06 per litre.