Petrol price cut by Rs1.60, HSD’s hiked by Rs1.64

Business Recorder reported that the government lowered petrol to Rs377.71 per litre for the October 23 review, from Rs379.31. High-Speed Diesel (HSD), by contrast, rose to Rs391.75 per litre from Rs390.11, reflecting different movements in the products’ import costs.

Average refined petrol prices edged down to USD 117.89 per barrel from USD 118.80, while HSD rose to USD 109.47 from USD 108.54. OGRA attributed the revisions to global factors, including Platts rates, premiums and incidental costs; the Petroleum Division said levies and fixed margins were largely unchanged. Both fuels retain a Petroleum Levy of Rs80 per litre and a Climate Support Levy of Rs5, with dealer and oil marketing company margins also unchanged.