Petrol price cut by Rs1.49, HSD’s by Rs2.73

Business Recorder reported that the government cut ex-depot rates for petrol and high speed diesel, with the revision applying from September 30. Petrol shed Rs1.49 and now settles at Rs387.54 per litre, having been priced at Rs389.03. HSD lost Rs2.73, landing at Rs402.24 per litre, compared with Rs404.97 earlier.

The Petroleum Division attributed the change to OGRA's calculation, which averages daily Platts benchmark quotes over seven working days. On that basis the average petrol benchmark slipped to USD 127.92 a barrel from USD 128.76 on September 29, while diesel eased to USD 111.76 from USD 113.31.

Levies and fixed profit margins were left untouched for both fuels, so the reduction traces back to lower import costs. Petrol's import cost is now Rs276.78 per litre, down from Rs278.27, while HSD's has dropped to Rs317.24 from Rs319.97. Both products still carry a Rs80 Petroleum Levy and a Rs5 Climate Support Levy per litre.