WASIM IQBAL

ISLAMABAD: In the latest daily price review for October 24, the retail petrol price has been kept unchanged at Rs377.71 per litre, whereas, High-Speed Diesel (HSD) saw an increase of Rs1.91 per litre from Rs391.75 to Rs393.66 per litre effective.

Average refined petrol prices eased to USD 117.52 per barrel from USD 117.89 on October 23, while HSD increased slightly to USD 110.58 per barrel from USD 109.47.

Oil and Gas Regulatory Authority (OGRA) states that the change in price is necessitated by global events including changes in Platts rates, premiums, incidentals etc.

A Petroleum Division notification states that levies and profit margins remain largely steady across both products. The change is recorded in import cost of both petroleum products. The ex-refinery price of petrol has come down to Rs266.95 per litre from Rs266.97 per litre, whereas, import cost of HSD price has increased to Rs286.11 from Rs284.19 per litre.

According to the notification, government levies and fixed profit margins for petrol and HSD remain unchanged. Both fuels carry a Petroleum Levy of Rs80 per litre, a Climate Support Levy of Rs5 per litre, and profit margins of Rs9.98 per litre for dealers and Rs7.87 per litre for oil marketing companies. The Inland Freight Equalisation Margin (IFEM) is sustained at Rs 7.89 per litre for petrol, and Rs 4.71 per litre for HSD.

The new prices are applicable from October 24 to 26.