ISLAMABAD (Web Desk) - Petroleum product prices in Pakistan are expected to decline following changes in the international market, raising the possibility of relief for consumers in the coming pricing review.
According to market sources, the ex-refinery price of diesel has dropped by Rs31 per litre, while the ex-refinery price of petrol has decreased by Rs8.54 per litre.
Sources said customs duty on petrol increased by Rs2.86 per litre, taking the total customs duty from Rs22.75 to Rs25.61 per litre. Meanwhile, the ex-refinery price of petrol fell from Rs277.06 to Rs268.52 per litre.
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The premium on petrol per barrel reportedly increased by $2.90, rising from $17.44 to $20.34 per barrel. However, the per-barrel price of petrol declined from $144.57 to $138.08.
Similarly, the ex-refinery price of diesel decreased from Rs322.28 to Rs291.37 per litre. A reduction of $17.61 per barrel was recorded in diesel prices, bringing the per-barrel rate down from $169.1 to $151.40.
Sources added that the final decision regarding changes in petroleum prices will be taken by the government. The prime minister, in consultation with the economic team, will decide while keeping revenue targets in view.
Market analysts believe that if the government does not increase the levy margin, consumers may receive significant relief in fuel prices.