Petrol price up 88 paise, HSD’s down Rs1.88

Business Recorder reported that the government announced revised fuel rates on Monday, effective from Tuesday, October 6. Petrol went up 88 paise a litre to a new price of Rs393.64, while high speed diesel fell by Rs1.88 to Rs397.76, down from Rs399.64.

The official notification attributed the petrol increase mainly to a higher Inland Freight Equalisation Margin, which rose from Rs7.91 to Rs8.02 per litre for petrol, while the diesel margin moved from Rs4.19 to Rs4.75 per litre. PSO also allowed an adjustment exchange rate of Rs1.33 per litre on petrol, and OGRA linked the revision to global factors such as Platts rates, premiums and incidentals.

Over the past seven days, the average petrol price rose to USD 130.68 per barrel from USD 130.17 on October 3, while the average HSD price eased to USD 108.88 from USD 109.95 per barrel. Import costs moved in opposite directions, with petrol rising to Rs282.77 per litre from Rs281.89 and diesel dropping to Rs290.16 from Rs292.04, while levies and margins stayed largely unchanged.