Weekly review: Prices of petrol, CNG inch down
The weekly review of oil prices, effective Monday, brought forth both good and bad news for consumers, albeit in small dosage.
The price of High Speed Diesel (HSD), an essential fuel for transport and agriculture sectors, was increased by Rs3.39 per litre to Rs115.52. The revision may have a significant impact on the prices of consumer goods such as edible items.
The price of petrol, on the other hand, witnessed its first downward revision since the weekly review mechanism has been put in place. A reduction in the price of petrol by Rs4.65 means the fuel will now cost Rs99.90 – just under the much-dreaded Rs100 barrier. The move comes in the wake of a reduction in petrol prices in international markets. A drop in the price of petrol also means a reduction in the price of Compressed Natural Gas (CNG) as the two are pegged at a 60% parity formula. The price of CNG was reduced by Rs4.27 per kilogram in Region-1 and by Rs3.89 in Region-2.
The price of CNG in region-1, which comprises areas of Khyber-Pakhtunkhwa, Balochistan and the Potohar region, is now Rs91.45 per kg, while the price of the fuel in region-2 which comprises areas from Sindh and Punjab (excluding Potohar region) will now be Rs83.55.
The price of kerosene, which is used for cooking in remote areas of the country, has been increased from Rs102.21 per litre to Rs104.06, while the price of Liquefied Petroleum Gas (LPG) has been jacked up by Rs1.85.
The price of High Octane Blending Component (HOBC), a fuel used in luxury vehicles, also witnessed an increase by Rs3.27 per litre, to Rs136.46. The price of Light Diesel Oil (LDO) has been increased by Rs0.57 to Rs99.41,
The prices of jet fuels witnessed a surge across the board. The price of JP-1 was increased by Rs11.02 per litre to Rs93.67, of JP-4 by Rs2.13 to Rs85.60, and of JP-8 by Rs1.81 to Rs93.36.
Published in The Express Tribune, September 10th, 2012.
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What the shameful act of PPP's government by showing greatest ever effrontery and meanness by increasing diesel's price because majority of the nation or common and poor man travels on public transport and public transport buses and trains are diesel's engines and in the villages where electronic tube wells are not installed and people use diesel to fulfill the requirements of irrigation by using peter engines and petrol price is reduced whereas petrol is used mostly by the elite,privileged and rich people who can afford petrol.