The Pakistani government has adjusted the exchange rate used to calculate petroleum product prices, effective from September 16, 2024.
This adjustment resulted in a slight increase in petrol prices but had a negligible impact on High Speed Diesel (HSD) prices.
The adjustment added Rs3.13 per liter to petrol prices and reduced HSD prices by 66 paisa per liter for the fortnight.
This change was driven by a decrease in the average Platts price for both petrol and HSD over the past two weeks.
Ex-refinery prices for petrol and HSD also decreased, leading to a reduction in the final retail price for petrol by Rs10 per liter, reaching Rs249.10.
HSD prices fell by Rs13.06 per liter to Rs249.69, while kerosene prices dropped by Rs11.15 to Rs158.47. Light diesel oil prices also decreased by Rs12.12 per liter, reaching Rs149.13.
The Inland Freight Equalisation Margin (IFEM) for both petrol and HSD remained unchanged.
