ISLAMABAD: The government has kept the price of petrol unchanged for January while reducing the cost of diesel. The new prices of petroleum products will be effective from today (Friday).
The government will collect Rs13 billion in petroleum levy and Rs23 billion in general sales tax through the sale of petroleum products in January.
The Oil and Gas Regulatory Authority (Ogra) had worked out a hike in petrol price by 2.8% and a 15% cut in prices of other petroleum products.
Ogra had worked out a hike of Rs2.17 per litre for petrol and a Rs5.93per litre cut for High-Speed Diesel. Similarly, the price of Light Diesel Oil was to be reduced by Rs8.29 per litre, High-Octane Blended Component (HOBC) by Rs4.33 and of kerosene oil by Rs7.92 per litre.
The prime minister, however, decided to keep the price of petrol unchanged for January 2016. The price will remain at the current Rs76.26 per litre.
Against Ogra’s recommendation of Rs5.93 per litre cut for High-Speed Diesel, the government reduced the price by only Rs3 per litre, from the existing Rs83.79 to Rs80.79 per litre.
The price of kerosene was cut by Rs8.07 per litre, bringing the price down from Rs56.32 to Rs48.25 per litre. The new price of Light Diesel Oil, mainly used by the manufacturing industry, has come down by Rs8.29 per litre from Rs56.23 to Rs44.94 per litre. The price for HOBC has also been kept unchanged at Rs80.66 per litre.
Published in The Express Tribune, January 1st, 2016.
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