The government of Pakistan has announced the prices of petroleum products for the next two weeks. The price of petrol will remain unchanged at Rs262 per litre. However, there are some important changes in the components that make up this price. The ex-refinery price, which is the price at the refinery, has decreased by Rs7.51 per litre. This decrease has allowed the government to increase the petroleum development levy (PDL) by Rs5 per litre to Rs55.
This increase in the PDL is a result of a new stand-by arrangement (SBA) of $3 billion with the International Monetary Fund (IMF). One of the conditions of this program is to increase the maximum PDL from Rs50 per litre to Rs60. To fulfill this condition, the PDL has been increased by Rs5 per litre.
In addition, the margins for the IFEM (Integrated Facility for Energy Management), OMC (Oil Marketing Companies), and dealers have increased by Rs2.51 per litre.
These new prices will be in effect until July 15. It is expected that the arrival of a second shipment of Russian oil will lead to a reduction in petroleum product prices in Pakistan.
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