Petrol price may surge by Rs2.58 a litre

ISLAMABAD: The price of petrol may surge by Rs2.58 per liter and high speed diesel (HSD) by Rs5.91 per litre from November 16 for the next fortnight mainly because of upward adjustments of crude oil prices in the last 12 days of the ongoing fortnight, senior officials told The News.

The average FOB (freight on board) price of Arab crude oil stayed at $75.490 per barrel, 92 RON $76.649 per barrel and gasoline 10ppm at $87.6 per barrel. The import premium on petrol increased to $9.80 per barrel. The premium on HSD remains at $5 per barrel.

“Three days are left in ending the current fortnight and during the said three days more fluctuations in oil prices would help the authorities to take the updated decision on November 16. The final decision for POL prices would be taken by the prime minister of Pakistan,” they said.

According to the 12 days’ data about purchasing the POL products, the petrol price may increase by Rs2.58 per liter to Rs250.96 from the existing price of Rs248.38 per liter. The price of diesel is also estimated to hike by Rs5.91 per liter to Rs261.05 from the existing price of Rs255.14 per liter.

The price of kerosene oil is also likely to increase by Rs5.54 per liter to Rs167.08 from Rs161.54 per liter. Likewise, the price of LDO (light diesel oil) is also estimated to swell by Rs5.90 per liter to Rs153.41 from the current price of Rs147.51 per liter.