After a fortnight of upward revision, consumers on Sunday received some relief after a cut of Rs6 per litre in petrol price that brought it down from Rs108.45 to Rs102.45 per litre, the new price regime will go into effect on Monday.
Petrol prices went up by Rs6.82 and Rs1.73 per litre on September 16 and 23 respectively, registering a total increase of Rs8.55 in 15 days.
Though nominal, Sunday’s price revision included reduction in prices of every other petroleum product.
Reduced prices
The price reduction was recommended in a summary on weekly fuel price revision submitted by the ministry of petroleum and natural resources to the finance ministry on Saturday. In this regard, notification for the new price has been issued.
The price of high-speed diesel (HSD), used mainly in transport vehicles and agriculture, has come down by Rs0.14 per litre from Rs113.30 to Rs113.16 per litre.
The price of kerosene, used as fuel in remote areas where liquefied petroleum gas (LPG) is not available, eased by Rs0.40 per litre to Rs101.23 per litre.
The price of light diesel oil (LDO), used for industrial purposes, inched lower by Rs0.95 per litre to Rs96.22 per litre from Rs97.17 per litre.
The prices of jet fuels JP-1, JP-4 and JP-8 have dropped by Rs0.79, Rs0.18 and Rs0.79 per litre to Rs90.42, Rs82.50 and Rs90.11 per litre, respectively.
CNG prices
Following a cut in petrol prices, the price of compressed natural gas (CNG), pegged at 60% of petrol’s, will also come down from Monday.
In Region-I, comprising Balochistan and Khyber-Pakhtunkhwa, CNG will cost Rs93.79 per kg, down Rs5.49 from last week’s rate of Rs99.28 per kg. In Region-II, which includes Sindh and Punjab, CNG price has been slashed by Rs5.02 to Rs85.68 per kg from Rs90.70 per kg.
Freight margin
From Monday, the government will also implement an ECC decision on deregulation of freight margin on High-Octane Blending Component (HOBC). Following that, prices of HOBC, which is produced only by Pak Arab Refinery Company located in Mehmoodkot, near Multan, will vary across the country.
According to estimates, HOBC price in Karachi will rise by Rs0.36 per litre and decrease by the same amount in Lahore. In Islamabad, HOBC will be cheaper by Rs1.40 per litre.
Published in The Express Tribune, October 1st, 2012.
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