Govt jacks up fuel prices
The prices were increased contrary to expectations that the prices would be maintained in the wake of last month’s big jump. PHOTO: AFP/FILE
The federal government on Friday night gave the people a “gift” of fuel price hike on the eve of Eidul Azha, contrary to general expectations that the prices would be maintained in the wake of last month’s big jump.
For the month of August, the government increased the price of petrol by Rs3.86 per litre, high speed diesel (HSD) by Rs5 per litre, kerosene oil by Rs 5.97 per litre and light diesel oil by Rs6.62 per litre.
The high speed diesel is used mostly in the transport and agriculture sectors. Therefore, any increase in its price will lead to inflationary impact. The HSD had gone up to Rs106.46 per litre from existing Rs 101.46 per litre.
The price of petrol has been increased by Rs3.86 per litre. Petrol is used in vehicles and its alternate is the compressed natural gas (CNG). The CNG retail outlets in Punjab use imported gas at higher rates. The new price of petrol is Rs103.97 per litre for August, up from Rs100.11 per litre in July.
Kerosene oil price has also gone up Rs5.97 per litre. This is used in remote areas where liquefied petroleum gas (LPG) is not available for cooking purposes. So any increase in its price will have an impact on the life of the poor. The new kerosene oil price is Rs65.29 per litre from Rs59.32 per litre the last month.
The price of light diesel oil has been hiked by Rs6.62 per litre. It is used in industries. Its price goes up to Rs62.86 per litre against Rs56.24 per litre.