The price of petrol and compressed natural gas (CNG) is likely to increase by Rs 3 per litre and Rs 2.5 per kg, respectively, next week. According to officials of the Petroleum Ministry, a ship arrived in Pakistan this week carrying 35,000 tons of petrol at a higher price that the previous shipment. The mechanism for setting the price of fuel was to average out the cost of all fuels and hence a notification raising the price of petrol was expected at midnight on Sunday.

However, consumers of other Petroleum, Oil and Lubricant (POL) products are expected to be given some relief as the price of kerosene was likely to decrease by Rs 2 per litre, High Speed Diesel by Rs 2.5 per litre, Light Diesel Oil (LDO) by Rs 2.4 per litre and High Octane Blending Component (HOBC) by Rs 3.2 per litre next week.

Currently different POL products are available on following rates: HOBC Rs 132.26 per litre, Petrol at Rs 102.45 per litre, High Speed Diesel at Rs 113.16 per litre, Light Speed Diesel at Rs 96.22 per litre and Kerosene Oil at Rs 101.23 per litre. After the expected price change, HOBC will be sold at Rs 129.26 per litre, HSD at Rs 110.66 per litre, LDO at Rs 93.72 per litre, petrol Rs 105.45 per litre and kerosene oil at Rs 98.23 per litre.

Copyright Business Recorder, 2012