The oil industry has predicted the respective increases in the range of 12.02 percent as well as 16.82 percent in the prices ex-refinery for Motor Spirit (MS) Petrol and High-Speed Diesel (HSD), making the cost on price Differential Claims (PDCs) on both products to. 16.25 per Liter and the equivalent of Rs. 20.69 per liter during the final fortnight of March.
According to the calculations made by the oil industry basing on platts’s averages, from the 25th of February until 7 March 2022, it was predicted that the cost of ex-refinery gasoline is likely to increase by approximately Rs. 16.25 per liter, rising to the price of Rs. 151.48 per liter from currently rate of Rs. 135.23 per liter starting from the upcoming fortnightly (16 March until 31 March) according to official data from ProPakistani disclosed.
The documents say that, on the basis of the rise in the international price of oil It is projected that the price at which refineries sell HSD will likely to increase in the range of 16.82 percent, ranging from the current price of Rs. 136.61 per Liter to the price of Rs. 159.58 per liter for the fortnightly update to come.
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According to the documents, between March 4 until April 7, cost for Brent Crude Oil in the international market increased to 8.98 per cent from $114.78 per barrel to $125.09 per bbl. Likewise, the price of Arab Light increased by 14.62 percent from $111.64 per barrel to $127.96 per barrel. The price of gasoline 10ppm jumped in value by 16.98 percent in three days, from $134.39 per barrel to $157 for a BBL, RON 92 increased in 14.83 percentage from $120.81 per BBL up to $138.73 per bbl. the RON 95 price increased in 14.37 percent , from $124.68 per bbl up to $142.60 per BBL.
The rising HSD and petrol prices will push the cost of PDC to about Rs. 16.25 per liter when it comes to the purchase of petrol, and the amount will be Rs. 20.69 per liter in the case of HSD. Pakistan consumes approximately 0.7 million MT of gasoline per month. A PDC that is 16.25 per liter will amount to more than $. 5.6 billion in one fortnight. The use of HSD totals 0.55 MT. The PDC at Rs. 20.69 per liter could be equivalent to nearly the equivalent of. 7 billion over the next fortnight according to estimates.
