Petrol price crossed the Rs100 per litre barrier for the first time in the country’s history as the Ministry of Petroleum raised its price to Rs105.68.
A notification issued on Saturday increased the price of petrol by Rs8.02 to Rs105.68.
Price of high speed diesel was raised by Rs4.70 to Rs108.16.
Price of kerosene oil rise by Rs5.29 to Rs101.69.
The government has cited rising prices of oil products in the international market as the reason behind the increase.
CNG prices reach new highs
In a simultaneous move the government raised the prices of CNG by as much as Rs11.58 in the country.
CNG prices were increased by Rs9.53 in Sindh and Punjab.
While CNG prices were raised by Rs11.58 in Khyber Pukhtunkhwa and Balochistan.
LPG prices decreased by Rs18 per kg
Liquefied Petroleum Gas LPG prices were decreased by Rs 18 per kilogram. Prices of 11.8kg cylinder dropped to Rs212 and 45.5kg cylinder to Rs835, Patron-in- chief All Pakistan LPG Distributors Association APLDA Abdul Hadi Khan said on Saturday, adding LPG international prices had fallen in the international market by $202 to $993 per ton for April 2012, slashing its import price by Rs 18,400 to Rs 122,000 per ton.
He said Saudi Armco Contract Price had dropped due to a fall in butane prices by $185 per ton and propane up by $240 per ton. He urged producers to reduce price in the country in accordance with drop in international prices to stabilise LPG falling sales. He called for increase in local production which shrank to 900 to 1100 ton per day in last one year.
He said LPG use in automotive sector was slashed by 60% due to price jacks by producers and 1000 LPG outlets closed due to price hike. He suggested government withdraw sales tax on LPG import in Federal Budget for fiscal year 2012-13 to eliminate monopoly of producers.