Petrol price up by Rs1.20, HSD’s down by 17 paise

Petrol will cost Rs393.86 per litre after a rise of Rs1.20 from Rs392.66, according to Business Recorder, even though global oil prices have eased. The increase follows a higher oil premium and freight charges, which moved from USD 16.12 to USD 17.94 per barrel. Diesel, meanwhile, goes down by 17 paise to Rs396.65 per litre from October 15.

Over the past seven days, the average refined petrol price stood at USD 129.31 per barrel, against USD 130.63 on October 14, while HSD came to USD 108.34, compared with USD 108.43. The Oil and Gas Regulatory Authority linked the revision to global developments such as Platts quotations, premiums and incidentals. Petrol's import cost went up to Rs283.08 per litre from Rs281.88, while the HSD import cost dropped to Rs289.09 from Rs289.29.

A Petroleum Division notification shows that levies and profit margins are unchanged for both fuels. Petroleum Levy stays at Rs80 per litre and the Climate Support Levy at Rs5 per litre, while dealer margins are Rs9.98 per litre and oil marketing company margins Rs7.87 per litre. The Inland Freight Equalisation Margin is Rs7.93 per litre for petrol and Rs4.71 per litre for HSD.