WASIM IQBAL

ISLAMABAD: The ex-depot price of petrol has been reduced by Rs8 per litre, bringing the retail price down from Rs346 to Rs338 per litre. Similarly, High-Speed Diesel (HSD) saw a price cut of Rs7 per litre, lowering its rate from Rs378 to Rs371 per litre for November 11.

The regulator attributed these adjustments to global developments alongside changes in Platts pricing, premiums, and incidental costs. International benchmark prices of petrol has decreased to USD 97.12 per bbl from USD 101.92 per bbl, however, premium including freight remained as high as USD 25.67 per bbl, while HSD benchmark prices has decreased to USD 100.57 per barrel from USD 104.34 per bbl.

The ex-refinery price of petrol has decreased to Rs241.56 from Rs249.92 per litre. While the ex-refinery cost of HSD decreased to Rs263.28 per litre (previously Rs269.86).

Consumers across the country will get relief at the fuel pumps on November 11, as the Oil and Gas Regulatory Authority (OGRA) announced a reduction in the ex-depot prices of petrol and HSD.

Government levies and fixed profit margins for petrol and HSD remain unchanged.