After a reduction of Rs9.62 per litre on September 16 (Friday), the price of mogas is projected to fall from Rs235.98 per litre to Rs226.36 for the following two weeks.
Nevertheless, a marginal price increase of Rs3.04 per litre is anticipated for diesel, bringing the price for the specified period from Rs247.26 per litre to Rs250.30.
Industrial sources reported that, for the period of September 1 through September 15, the average Platts price for motor spirit fell by Rs9.55 to Rs92.28 from Rs101.83.
However, when compared to the exchange rate that was recorded between August 16 and 31, the rate stayed on the higher side.
Even though the average Platts price for diesel dropped by Rs6.46 per litre to Rs133.93 from Rs140.38 per litre for the period of September 1–15, the cost and freight in dollars increased.
The exchange rate also increased by Rs 7.87, and it remained above average at Rs 225.63 as opposed to the Rs 217.81 recorded between August 16 and 31.
Due to the projected increase in import taxes on HSD of Rs3.37 to Rs22.11 per litre from Rs18.74, the cost of one litre of diesel at a refinery will increase by Rs1.57 to Rs224.57 from Rs223.
