Petrol price hiked by Rs1.19, HSD’s cut by Rs1.91

Business Recorder reported that petrol rose Rs1.19 per litre, while high speed diesel (HSD) fell Rs1.91 per litre, effective for October 7. Under the official notification, petrol now sells at Rs394.83 per litre, up from Rs393.64, whereas HSD falls to Rs395.85 from Rs397.76. The revision follows a decline in local output and volatile global oil markets after disruption in the Strait of Hormuz.

Arif Habib Limited, as cited by Business Recorder, said domestic oil output dropped 6.4 percent on a weekly basis, reaching 63.7k bopd, largely as northern field flows declined. OGRA attributed the price change to global factors, including movements in Platts rates, premiums and incidental costs. A Petroleum Division notification said levies and margins were largely unchanged, while petrol's import bill climbed to Rs283.96 a litre from Rs282.77 and HSD's import cost eased to Rs288.25 a litre, down from Rs290.16.

Levies and margins held steady: the petroleum levy stands at Rs80 a litre, the climate levy at Rs5, while dealers keep Rs9.98 and oil marketers Rs7.87 per litre. The Inland Freight Equalisation Margin stands at Rs8.02 a litre on petrol and Rs4.19 to Rs4.75 on HSD.