According to a report from The News, the price of gasoline could decrease over the next two weeks (starting tomorrow) due to a drop in its average Platts price.
Details indicate that between September 1 and 15, the Platts’s price for gasoline decreased by Rs. 9.55/liter, which might lead to a decrease in the price of gas of Rs. 9.62/liter. The article also points out that the exchange rate, which has also increased throughout the timeline above, will also have an impact on the price of gasoline.
The gasoline refinery rate has also decreased by Rs. 7.84/liter, from Rs. 174.61/liter to Rs. 166.76/liter, thanks to an Rs. 15.39/liter customs fee. As a result, it is anticipated that the price of gasoline at the refinery will drop from Rs. 183.04/liter to Rs. 173.43/liter by Rs. 9.62.
On the other side, the cost of diesel is anticipated to increase by Rs. 3.04/liter, to Rs. 250.30/liter from Rs. 247.26/liter. From Rs. 140.38/liter to Rs. 133.93/liter, the diesel Platts rate decreased by Rs. 6.46/liter. However, the price may fluctuate due to the rising exchange rate and freight costs.
The increase is also brought on by the potential increase in diesel fuel customs duties. The government intends to raise the tax from 18.74 to 22.11 rupees per liter, an increase of Rs. 3.37. As a result, the refinery pricing will rise from Rs. 223/liter to Rs. 224.57/liter, a 1.57 rupee increase.
Diesel’s ex-refinery price is expected to rise from its current level of Rs. 228.87 to Rs. 231.90 a liter.
It is important to note that consumers would be responsible for paying the increased distribution margins for diesel and gasoline, which are Rs. 3.68/liter and Rs. 7/litre, respectively. Additionally, there is a fee of Rs. 37.50 per liter and Rs. 7.50 per liter for gasoline and diesel, respectively.
Based on these numbers, experts expect the price of gasoline to reduce, but the rapidly falling value of the local currency keeps the situation unpredictable.