Islamabad:
The prices of petroleum products are expected to increase by a maximum of Rs 6.20 per liter for the next fortnight starting from January 16 due to the increase in international crude oil prices.
According to market sources, the ex-depot price of petrol is estimated to increase by Rs 3.53 paise per liter while kerosene and light diesel oil may be expensive by Rs. 4.98 paise and Rs. 6.20 paise per liter respectively. Similarly, the price of high speed diesel is likely to increase by Rs 2.29 paise per litre.
In the international market, Brent crude oil prices have increased by $1-2 per barrel since January 1. However, import premiums on petrol and diesel have remained unchanged and currency exchange rates have also remained broadly stable.
According to sources, the increase in petrol and high-speed diesel prices may be offset by the domestic freight equalization margin.
If petroleum prices are hiked, the prices of ex-depot petrol and high speed diesel will increase from Rs 252.66 to Rs 256.19 per liter and from Rs 258.34 to Rs 262 per litre, respectively.
The price of kerosene is likely to increase to Rs 167.93 per liter from Rs 162.95 and the price of light diesel oil is likely to increase to Rs 155.55 per liter from Rs 149.35.
On December 31, 2024, the government increased the prices of petrol and high-speed diesel by 56 paisa and Rs 2.96 per liter respectively.
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers and this directly affects the budget of the middle and lower middle class.
High speed diesel is mainly used in heavy vehicles such as trucks and buses as well as trains. It is also used in tractors, tubewells and threshers, which affects prices of vegetables and other food items.
On Friday, OGRA announced an adjustment in imported liquefied natural gas (LNG) prices for January. It increased rates for customers of Sui Southern Gas Company (SSGC) but reduced them for customers of Sui Northern Gas Pipelines Limited (SNGPL).
On a month-on-month basis, LNG prices for SSGC customers at the transmission stage increased by $0.0468 to $10.5883 per mmbtu. At the distribution stage, the price increased from $12.5456 to $12.6014 per mmbtu.
In contrast, for SNGPL customers, LNG prices declined in both phases. At the transmission stage, the price decreased by $0.2371 to $11.7288 per mmbtu while at the distribution stage, the price decreased from $12.8997 to $12.6667 per mmbtu.