With the increase of Rs3.50 in petrol price, the new price of the commodity will be Rs77.79 per litre. PHOTO: APP
ISLAMABAD: In line with a hike in oil prices in the international market, the government on Sunday increased prices of petroleum products by up to Rs3.57 per litre effective from Monday (today) for the month of June 2015.
The price of light diesel oil (LDO), mainly used for industrial purposes, saw the highest increase of Rs3.57 per litre from the existing Rs57.94 to Rs61.51 per litre. The price of petrol has been increased by Rs3.50 per litre from the current Rs74.29 to Rs 77.79.
The Oil and Gas Regulatory Authority (Ogra) had worked out an increase of Rs13.25 per litre of petroleum following fluctuations in global oil prices. Prime Minister Nawaz Sharif, however, approved an increase of up to Rs3.57 per litre to avoid criticism from the masses and political parties before the upcoming budget. The impact would be absorbed in taxes to provide relief to consumers.
The consumers of high speed diesel – which is mainly used in the transport and agriculture sectors – will bear a hike of Rs3.51 with a new price of Rs87.12 per litre from the existing Rs83.61.
The price of kerosene oil, used for cooking purposes in remote areas where liquefied petroleum gas is not readily available, witnessed a hike of Rs3.50 per litre, bringing its price up to Rs64.94 per litre from Rs61.44. The price of high-octane blending component (HOBC), used mainly in luxury cars, witnessed a hike of Rs3.50 per litre bringing the current price to Rs83.81 from Rs80.31 per litre.
In its summary moved to the petroleum and finance ministries, Ogra had worked out raising prices by Rs6.19 per litre for petrol, Rs 7.91 for high speed diesel, Rs 7.62 for light diesel oil, Rs6.53 for kerosene oil and Rs13.25 per litre for HOBC.
Published in The Express Tribune, June 1st, 2015.
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