The Oil and Gas Regulatory Authority (OGRA) lowered the ex-depot price of petrol by Rs3.93 per litre for a three-day period from 17 to 19 October. Petrol prices dropped from Rs390.23 to Rs386.30 per litre, while high-speed diesel remained unchanged at Rs396.96 per litre.
The Petroleum Division stated that global market developments, including fluctuations in Platts rates and premiums, necessitated the price revision. Import costs for petrol fell to Rs275.56 per litre from Rs279.45 per litre, while the average refined price decreased to USD 124.39 per barrel.
High-speed diesel saw a marginal increase to USD 108.54 per barrel from USD 108.53, while its domestic cost stayed at Rs289.40 per litre. Both fuels incur a Petroleum Levy of Rs80 per litre and a Climate Support Levy of Rs5 per litre.
Taxes and duties on petrol remain at Rs114 per litre, while diesel is subject to a levy of Rs100 per litre. Profit margins for dealers are set at Rs9.98 per litre, with oil marketing companies earning Rs7.87 per litre.
The Inland Freight Equalisation Margin is maintained at Rs7.93 per litre for petrol and Rs4.71 per litre for high-speed diesel. Fuel allocations for official vehicles have been reduced by 50 per cent for a three-month period.
Markets are required to close by 9pm daily.
