Petrol price is likely to remain unchanged in the next fortnightly review

• Gasoline prices will remain stable in the next review.
• Diesel and kerosene prices are coming down from December 1.
• The next fortnightly review is due tomorrow (November 31).

KARACHI: Petroleum prices will not see any significant change in the upcoming fortnightly review with diesel and kerosene rates expected to decline slightly, according to industry estimates.

According to a The news Oil prices outside the refinery and warehouse showed no significant change as global crude prices eased in recent days, a report released on Thursday showed.

The ex-storage price of petrol, the most widely used fuel in the country, is slightly higher by Rs 0.19 per liter at Rs 281.53 per liter compared to the current price of Rs 281.34, industry officials said.

The warehouse price of high-speed diesel (HSD), used mainly for transport, was estimated at Rs 290.47 per liter for the next fortnight compared to the existing price of Rs 296.71, showing a decline of Rs 6.24 per litre.

The ex-depot price of kerosene, used for cooking and lighting in rural areas, has been pegged at Rs 202.16 per liter as against the current price of Rs 204.98, indicating a decrease of Rs 2.82 per litre.

The ex-depot price of light speed diesel, another variant of diesel, has been pegged at Rs 176.18 per liter for the next revision against the current price of Rs 180.45, down by Rs 4.27 per litre, according to the report is declared.

According to industry papers, the estimated exchange adjustment for petrol is nil, while it is Rs 1.80 per liter for HSD.

However, industry officials said crude oil prices could change with foreign exchange losses as the industry did not put the number of foreign exchange losses in its work for the next revision.

The country sets fuel prices on a fortnightly basis after assessing the fluctuating cost of the international energy market and the rupee-dollar exchange rate to pass on the impact to domestic consumers.

They said global oil prices remained under pressure in November, falling below $75 a barrel in mid-November.

WTI was trading at $76.50 a barrel on November 29, down nearly 7% from October 29. Brent fell 5.4 percent last month to trade at $86.35 a barrel, they added.