Petrol price may rise to Rs 290 per litre during Eid season

The price of petrol may go up by  Rs10-11 per litre on Sunday (March 31) for the next fortnight.

Experts are blaming higher import premiums and global prices for the rise in price.

However, the price of another key fuel, high-speed diesel (HSD), is likely to drop by up to Rs2 per litre, reported Dawn News.

Given petrol’s current ex-depot price of around Rs280 per litre, the coming review may take its rate beyond Rs290, the newspaper reported.

Informed sources told Dawn News that the import price of petrol has increased by about $4 per barrel, and its import premium has further gone up to $13.5 per barrel from $12.15 a fortnight ago because of the geopolitical situation.

On the other hand, the HSD price was down in the international market, and the import premium paid by Pakistan State Oil (PSO) remained unchanged at $6.50 per barrel.

For price calculations, officials told Dawn News that the price of petrol had gone up by about $4 per barrel to $94.5 over the last two weeks, while HSD’s price inched down by about 60 cents per barrel to $98.4.