Petrol price cut by Rs3.93; HSD’s remains unchanged

Business Recorder reported that the government has reduced petrol prices by Rs3.93 per litre, a cut that applies for the next three days from October 17. According to an official notification, petrol now sells at Rs386.30 per litre, down from Rs390.23. High Speed Diesel, however, has been held at Rs396.96 per litre for the same period.

Over the past seven days, the average refined petrol price fell to USD 124.39 per barrel from USD 127.24 on October 16. The average HSD price rose marginally, moving from USD 108.53 to USD 108.54 per barrel. OGRA attributed the change to global factors such as Platts quotations, premiums and incidental costs.

Import costs for petrol eased to Rs275.56 per litre from Rs279.45, while the HSD import cost held at Rs289.40. A Petroleum Division notification shows that levies and fixed margins were left unchanged, including an Rs80 petroleum levy, a Rs5 climate support levy, and dealer and oil marketing company margins of Rs9.98 and Rs7.87 per litre. The inland freight equalisation margin stands at Rs7.93 per litre on petrol, against Rs4.71 on HSD.