PTI govt increases petrol price by one-rupee per litre for November

Price of LDO comes down to Rs85.33 per litre from Rs91.89

Zafar Bhutta October 31, 2019
Price of LDO comes down to Rs85.33 per litre from Rs91.89 . PHOTO: FILE

ISLAMABAD: The government on Thursday approved an increase in the price of petrol by Re1 per litre for the month of November amid fluctuation in global crude oil prices.

A day earlier, the Oil and Gas Regulatory Authority (Ogra) had recommended the price of petrol may be increased by Re1 per litre and the price of high-speed diesel by Re0.27 per litre.

On the other hand, it had suggested a reduction of Rs2.39 per litre in the price of kerosene oil and Rs6.56 per litre in light diesel oil LDO.

With the price of petrol up by Re1 per litre, the price has jumped up from the existing Rs113.24 to Rs114.24 per litre whereas the price of high-speed diesel hiked to Rs127.41 per litre from the Rs127.14, registering an increase of Re0.27 per litre.

The price of LDO, which is mainly used for industrial purposes, has come down to Rs85.33 per litre from the Rs91.89 registering a reduction of Rs6.56 per litre.

Similarly, the price of kerosene oil has come down from Rs99.57 to Rs97.18 per litre by slashing Rs2.39 per litre.

OGRA recommends one-rupee hike in petrol price

Kerosene is used for cooking purposes, especially in remote areas where liquefied natural gas (LPG) or pipeline gas is not available.

Petrol is used in vehicles and is alternative of CNG. High Speed Diesel is used in transport and agriculture sectors and increase in its price would result in increasing inflation.

Brent crude oil price in the international market stood at $61.15 per barrel on October 30 while on September 27, it was $62.22 per barrel.

It is worth mentioning that since July, Pakistan has been receiving monthly oil supplies worth $275 million from Saudi Arabia on deferred payments.

Under the arrangement, Pakistan will get the oil credit facility to the tune of $9.9 billion over three years.