The prices of petrol and high-speed diesel are expected to increase tomorrow (February 16) for the next fortnight after the exchange rate adjustment, VOS reported on Thursday.
According to official sources, the main hike in fuel prices comes in the wake of the alarming situation in the Red Sea where Houthis are attacking and restricting the movement of oil vessels and other ships.
Without the exchange adjustment, however, the price of petrol is likely to shoot up by Rs1.97 per litre from an ex-depot sale price of Rs272.89 per litre to Rs274.86 per litre. Likewise, the price of diesel without exchange adjustment is likely to increase by Rs9.20 per litre from Rs278.96 per litre to Rs288.16 per litre.
The price of kerosene is also likely to go up by Rs1.57 per litre to Rs188.19 per litre from Rs186.62 per litre if the dollar-rupee exchange is not adjusted. The price of Light Diesel Oil (LDO) may also surge by Rs3.73 per litre to Rs170.59 per litre from Rs168.86 per litre.
The premium on petrol has been worked out at $9.43 per barrel and HSD $6.50 per barrel in the international market on account of continuous attacks on the ships in the Red Sea. However, the ex-refinery price of petrol is likely to increase to Rs191.44 from Rs189.47 per litre and the new ex-refinery price of diesel will be at Rs207.76 per litre, kerosene oil Rs177.80 per litre and LDO Rs164.14 per litre.
At present, the government is charging Rs60 per litre petroleum development levy (PDL) on both petrol and diesel. Consumers are also paying Rs5.69 per litre on petrol as IFEM (Internal Freight Equalization Margin), Rs7.87 per litre as OMCs margin and Rs8.64 per litre as dealers margin.
