Petrol price cut by Rs2.93, HSD’s hiked by 61 paise

Business Recorder reported that a fresh set of fuel rates for October 13 was issued as part of the government's daily review. Petrol becomes cheaper by Rs2.93 per litre, falling to Rs395.37 from Rs398.30. High-Speed Diesel (HSD) goes the other way, climbing 61 paise to Rs396.85 per litre.

The Oil and Gas Regulatory Authority (OGRA) said the adjustment reflects global developments, including movements in Platts rates, premiums and other incidental costs. An official petroleum division notice showed the import cost of petrol eased to Rs284.59 per litre from Rs287.52, while the HSD import cost rose to Rs289.29 from Rs288.68. Over the past seven days, average refined petrol prices slipped to USD 132.17 per bbl from USD 133.48 on October 10, while HSD rose to USD 108.43 per barrel from USD 108.07.

Government levies and fixed profit margins were left unchanged for both fuels. The petroleum levy stays at Rs80 per litre and the climate support levy at Rs5 per litre, while dealers keep Rs9.98 per litre and oil marketing companies Rs7.87 per litre. The Inland Freight Equalisation Margin is held at Rs7.93 per litre for petrol and Rs4.71 per litre for HSD.