However, consumers may witness an increase in prices of light diesel oil and kerosene oil from December.
Oil and Gas Regulatory Authority (Ogra) has adjusted rise in petrol prices through inland freight equalisation margin (IFEM) and recommended the government not to pass any price increase burden of diesel – the highest used fuel for transportation – to consumers.
Sources told The Express Tribune that petrol price increased by 59 paisa per litre, however, this was adjusted by Ogra in IFEM to maintain its existing price. The price of petrol declined in international market by over 6% but its price in the country increased due to imports, sources added.
The price of high speed diesel jumped by Rs3.93 per litre, in line with increase in global oil prices, but Ogra recommended the federal government to adjust the difference in petroleum levy and keep oil price unchanged for consumers.
All petroleum products witnessed hike in prices except High Octane Blending Component (HOBC) which would decline by Rs1.60 per litre if Ogra’s summary is approved by Prime Minister Yousaf Raza Gilani.
Kerosene oil prices are expected to rise by Rs3.48 per litre and Light Diesel Oil (LDO) by Rs4.79 per litre.
In the previous monthly price revision, the government had cut oil prices up to Rs5.93 per litre in line with reduction in global oil prices. Although the price of high speed diesel had declined by Rs0.18 per litre, the government adjusted it in petroleum levy and decided to maintain price for the current month.
The price of HOBC stands at Rs106.72 per litre, petrol at Rs87.41 per litre, kerosene oil at Rs85.76 per litre, LDO at Rs81.99 per litre and high speed diesel at Rs94.15 per litre.
Published in The Express Tribune, November 30th, 2011.
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