Petrol, diesel price likely to hike again

The Oil and Gas Regulatory Authority (Ogra) is set to announce revised prices for gasoline, diesel, and other petroleum products on September 15, taking into account the average international crude oil prices and exchange rate fluctuations during the initial 15 days of September.

According to industry estimates, gasoline prices may surge by Rs16 per liter in the upcoming bi-weekly review, while the cost of high-speed diesel (HSD) is expected to increase by Rs13.66 per liter.

The ex-depot price for gasoline has been computed at Rs321.35 per liter for the next two weeks, compared to the current price of Rs305.36 per liter, representing an increase of Rs15.99. Similarly, the ex-depot price for HSD has been calculated at Rs325.50 per liter, compared to its current rate of Rs311.84 per liter, indicating a Rs13.66 per liter increase.

It is also anticipated that kerosene and light diesel oil (LDO) prices will rise by Rs10.02 and Rs4.45 per liter, respectively.

The increase in the ex-depot price is primarily attributed to the depreciation of the rupee, as well as the rise in international petroleum product prices.

The petroleum industry has computed the ex-depot price for petroleum products for the next two weeks using an average exchange rate of Rs304.21 per dollar, in contrast to the existing petroleum product prices in the country, which were calculated based on an average exchange rate of Rs299.77 per dollar.

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