Petroleum prices likely to be kept steady

ISLAMABAD: The petroleum prices are estimated to generally remain stable for the next fortnight starting March 16, informed sources said. They said the premium on petrol import had increased to $12.15 per barrel from $10.45 in February but exchange rate and international product prices remained range bound. The premium on the import of high-speed diesel (HSD) has remained unchanged at $6.50 per barrel. As a result, the calculations suggest the petrol price going up by about a rupee per litre while HSD going down by less than Re1 per litre. Therefore, the government had the cushion to maintain both prices through exchange rate and inland freight equalisation margin (IFEM) adjustments of the two projects. The prices of kerosene and light diesel oil are also expected to remain stable.