Suggestions of Oil and Gas Regulatory Authority (Ogra) of not increasing prices of Petroleum, Oil & Lubricants (POL) products and setting tri-monthly instead of monthly rates have been dismissed and POL prices are likely to go up by Rs8.94 starting April 1, Express News has reported.
Petrol price is to increase by Rs8.02, becoming Rs105.68 per litre, HOBC by Rs8.94 , making it Rs135.81 per litre, kerosene oil by Rs5.29 making it Rs101.69 and light diesel oil by Rs5.45, making it Rs98.74 per litre.
Inland Freight Margin delivery costs will also increase by Rs0.64, becoming 2.26 per litre.
COMMENTS (12)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
Lets take a look at some basic math on whether gas prices in Pakistan are out of line:
Current average price of gasoline in the US is ~$4.00/gallon 1 gallon = 3.79 liters $ to Rupee exchange ratio is ~ Rs.91 for $1
So a gallon of fuel in rupees costs - 91*4= Rs 364 - this is the cost of fuel in the US, considered one of the cheapest places in the world for gasoline.
Now on a per liter basis that works out to 364/3.79 = Rs.96/liter.
Gas prices are now Rs.105 in Pakistan. or 9 rupees more than they are per liter in the US. If you compare this to the cost of fuel in England, Sweden, or other Westernized nations, you will find that our cost of gasoline, as a non-producing nation, is actually on the lower side.
The cash implications to an actual consumer in an economy where GDP/capita is shameful, are understandable, but lets not argue the fact which is our price of gasoline is not significantly higher than the rest of the world.
Who should pay the true cost of engery?
@Pakistan politics: "Democracy is the best revenge" is the most idiotic phrase of this century. @ lone bread earner: Please do not abuse the blood suckers :)
Who should pay for the true price of petrol?
Adding insult to injury, the meters of pumps are are also set to dispense less than what you pay for.
i think increasing prices is necessary n badly needed!! govt has to take bold steps now! Hope opposition supports them in this!
Pakistan "Khappay"
Democracy is the best revenge
Democracy is the government of the people, by the people, for the people. I think this phrase is more than a lie
Worst than blood suckers
Let the People's Govt SERVE the people even more. They seem to be in such a hurry.