Petrol price goes up by Rs 1.73/litre, CNG Rs 1.59/kg
24 September, 2012
ISLAMABAD: The Ministry of Finance has approved an increase in petrol price by Rs 1.73 per litre, while prices of other petroleum products have been decreased under the weekly revision in POL prices.
However, the prices of other petroleum products, including high-speed diesel (HSD), have been reduced for the week beginning today (Monday).
The price of HSD has been slashed by 47 paisas per litre, kerosene oil by Rs 3.05 per litre, high-octane blending component (HOBC) by Rs 6.06 per litre, light diesel oil (LDO) by Rs 2.10 per litre.
Following the revision, petrol will be available at Rs 108.45 per litre from Monday, HOBC Rs 131.9 per litre, kerosene oil Rs 101.63 per litre, HSD Rs 113.30 per litre and LDO Rs 97.17 per litre.
The price of Compressed Natural Gas (CNG) has also been increased by Rs 1.59 per kilogramme after the hike in petrol price because of a mechanism under which CNG price would be equal to 60 percent of petrol price.
The price of CNG in Region-I, comprising Balochistan and Khyber Pakhtunkhwa, has risen to Rs 99.28 per kilogramme from Rs 97.69 per kg; and in Region-II, covering Sindh and Punjab, the price will be Rs 90.70 per kg from Rs 89.25 per kg.
The federal government had last Sunday increased the prices of POL products by up to Rs 6.82 per litre and that of CNG by Rs 6.32 per kg for the week ending Sunday.
The price of petrol was increased by Rs 6.82 per litre, high-octane blending component (HOBC) Rs 1.50 per litre, kerosene oil Rs 0.62 per litre, JP-1 Rs 0.58 per litre, JP-4 Rs 0.77 per litre, JP-8 Rs 0.58 per litre. While the price of high-speed diesel (HSD) was decreased by Rs 1.75 per litre and light diesel oil (LDO) Rs 0.14 per litre.
Experts are of the view that the decision taken by the Economic Coordination Committee (ECC) regarding the price determination mechanism of POL products on weekly basis had failed to provide relief to consumers.
According to reports collected from major cities, including Islamabad, Rawalpindi, Lahore, Faisalabad, Gujranwala, Karachi, Peshawar, it was revealed that petrol pump owners immediately stopped selling fuel to consumers as soon as they got information of change in prices.