The oil industry has projected respective hikes of 12.02 percent and 16.82 percent in ex-refinery prices of Motor Spirit (MS) Petrol and High-Speed Diesel (HSD), taking the burden of Price Differential Claims (PDCs) on both the products to Rs. 16.25 per liter and Rs. 20.69 per liter, respectively, during the last fortnightly of March.
As per the oil industry calculations based on platts average, from 25 February to 7 March 2022, it has been projected that the ex-refinery price of petrol is likely to jump by Rs. 16.25 per liter to Rs. 151.48 per liter from the existing Rs. 135.23 per liter from upcoming fortnightly (16 March to 31 March), official data available with ProPakistani revealed.
The documents state that based on the hike in international oil prices, it has been projected that the ex-refinery price of HSD is likely to go up by 16.82 percent, increasing from Rs. 136.61 per liter to Rs. 159.58 per liter during the upcoming fortnightly update.
As per the documents, from March 4 to March 7, the price of Brent Crude Oil in the international market went up by 8.98 percent from $114.78 per bbl to $125.09 per bbl, while Arab Light increased by 14.62 percent from $111.64 per bbl to $127.96 per bbl. Gasoline 10ppm increased by 16.98 percent in just three days from $134.39 per bbl to $157 per bbl, RON 92 by 14.83 percent from $120.81 per bbl to $138.73 per bbl, and RON 95 by 14.37 percent from $124.68 per bbl to $142.60 per bbl.
The increase in petrol and HSD prices will increase the payment of PDC to Rs. 16.25 per liter in case of petrol and Rs. 20.69 per liter in case of HSD. Pakistan consumes around 0.7 MT of petrol a month, and the PDC of 16.25 per liter will cost over Rs. 5.6 billion in just a single fortnightly. Similarly, the consumption of HSD is 0.55 MT, and the PDC of Rs. 20.69 per liter would translate into almost Rs. 7 billion during next fortnightly based on the projections.
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