Home »Week Highlights » MONDAY OCTOBER 15: Petrol and CNG prices slashed: other POL products’ prices hiked
ISLAMABAD: The prices of petrol and Compressed Natural Gas (CNG) were reduced by Rs 2.09 per litre and Rs 1.74-1.92 per kg, respectively, which will be effective from Monday (today). While the prices all other petroleum products including High Speed Diesel (HSD), Light Diesel Oil (LDO), Kerosene Oil and High Octane Blending Component (HOBC) were increased.

Following the revision in fuel prices from Monday, petrol will be available at Rs103.40 per litre, HSD at Rs113.62 per litre, kerosene at Rs103.87 per litre and LDO at Rs 97.93 per litre. The Ministry of Finance on Sunday approved a summary prepared by Oil Marketing Companies (OMCs) on the basis of prevailing international oil prices.

According to summary, the CNG price in region one has been reduced by Rs 1.92 per kg, while in region two by Rs 1.74 per kg. The government is collecting petroleum levy on petrol at the rate of Rs 8.86 per litre, Rs 11.84 per litre on HOBC, Rs 4.2 per litre on HSD and Rs 5.15 per litre on kerosene oil.

However, consumers of other important petroleum products will have no relief as the price of kerosene oil price has been increased by Rs 1.92 per litre, HSD by Rs 3.10 per litre, LDO by Rs 1.23 per litre and HOBC by Rs 3 per litre. Currently different POL products are available on following rates: HOBC Rs 132.26 per litre, petrol at Rs105.49 per litre, HSD at Rs110.46 per litre, LDO at Rs 96.7 per litre and Kerosene Oil at Rs 101.95 per litre.

After the changes in POL prices, HOBC will be sold at Rs 135.26 per litre, HSD at Rs 113.56 per litre, LDO 97.93 per litre, petrol at 103.36 per litre and kerosene oil at Rs 100.15 per litre. Following the increase in the HSD prices transporters are expected to increase the transportation charges of different goods being transported across the country. The operators of Public Service Vehicles plying on inter-city and intra city have always increased the passenger fares whenever the government increased HSD prices, despite the fact over 90 percent of the public service vehicles are using CNG as fuel. The public service vehicles are using CNG as fuel instead of HSD, while they are charging the passengers as per HSD price.

Copyright Business Recorder, 2012


the author

Leave a Reply

Your email address will not be published. Required fields are marked *

Top
Close
Close