ISLAMABAD: The price of motor spirit (MS) is likely to decline by Rs1.90 per litre but the high-speed diesel (HSD) price may increase by Rs3.50 per litre, effective from June 16, according to an estimate.

The estimated price change in both petroleum products is based at the current rate of petroleum levy (PL) and general sales tax (GST). The government is charging Rs50 per litre PL on petrol and zero rate of GST. The Pakistan State Oil (PSO) exchange rate losses are estimated at Rs2.50 per litre on petrol and HSD at Rs0.25 per litre. The government is charging an Inland Freight Equalization Margin (IFEM) of Rs4.04 per litre on petrol and Rs3.79 per litre on HSD.

The price of kerosene oil (SKO) is likely to witness a raise of Rs2 per litre, while Light Diesel Oil (LDO) may increase at Rs2.48 per litre.

In the previous two fortnightly reviews, prices of petrol and HSD went down significantly.