ISLAMABAD:
There seems to be no respite for petrol consumers as its price is expected to go up again by Rs1.73 per litre in tandem with fluctuations in the global crude market.
The price increase was recommended in a summary submitted by the Ministry of Petroleum and Natural Resources to the Ministry of Finance on Saturday for the weekly revision in petroleum product prices. New prices will be effective from Monday.
The prices of compressed natural gas (CNG) will also rise after the increase in petrol rate because of a set mechanism under which CNG price should be equal to 60% of petrol price.
In the price revision last week, the government increased the price of petrol by Rs6.82 per litre.
However, prices of other petroleum products including high-speed diesel (HSD) may be reduced for the upcoming week.
The price of HSD, which is mainly used in transport vehicles and agriculture, may come down by 47 paisa per litre. In the previous week too, the diesel price dropped by Rs1.75 per litre following a decline in global oil prices.
The price of kerosene oil, another important fuel used in cooking in remote areas where liquefied petroleum gas (LPG) is not available, especially in northern areas, may fall by Rs3.05 per litre. Last week, the kerosene price was increased by 62 paisa per litre.
The government is also likely to reduce significantly the price of high octane blending component (HOBC), consumed in luxury vehicles, by Rs6.06 per litre. This petroleum product is not used on a large scale and is only produced by Pak Arab Refinery Company (Parco).
The price of light diesel oil (LDO), which is used for industrial purposes, is expected to fall by Rs2.10 per litre.
After the price revisions, petrol will cost Rs108.45 per litre compared to Rs106.72 earlier, HOBC Rs131.9 per litre compared to Rs137.96, kerosene oil Rs101.63 per litre compared to Rs104.68, HSD Rs113.30 per litre compared to Rs113.77 and LDO Rs97.17 per litre compared to Rs99.27.
CNG price in region-I, comprising Balochistan and Khyber-Pakhtunkhwa, will rise to Rs99.28 per kg from Rs97.69 and in region-II, covering Sindh and Punjab, the price will be Rs90.70 per kg from Rs89.25.
Published in The Express Tribune, September 23rd, 2012.
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Overseas Pakistanis wait for 3 months and you will get a rise of 4 to 5 % as rupee is going to depreciate further.