ISLAMABAD: The cost of high-speed diesel (HSD) is set to decline by Rs. 11.50 a litre, while petrol rates could increase slightly by Rs. 1.40 a litre for the fortnight beginning August 16, according to sources.
According to prevailing taxation rates, the HSD ex-depot price is expected to fall by approximately 4%, although final amounts will be subject to last-minute computation. Petrol, on the other hand, is expected to increase by some 0.5%.
In the last two weeks, global petrol prices increased by 15 cents per barrel, while diesel prices fell by $4.5 per barrel. Moreover, the rupee also appreciated marginally against the US dollar, giving some respite to the consumers of diesel.
Petrol’s ex-depot price is now at Rs. 264.61 per litre, after a Rs. 7.54 per litre decrease on August 1. This follows a cumulative hike of Rs. 20 per litre in the last four fortnights since May 15.
Petrol is extensively used in private cars, motorcycles, rickshaws, and small automobiles and has a direct bearing on the expenses of middle- and lower-middle-class families.
HSD, however, retails for Rs. 285.83 a litre following a sharp Rs. 27 a litre increase since mid-May despite a small Rs. 1.48 a litre reduction earlier this month.
Apart from HSD, kerosene and light diesel oil (LDO) rates also stand to fall by Rs. 6 and Rs. 7 a litre, respectively.
