Weekly price review: Petrol prices go up by Rs3.04 per litre

Will cost Rs105.49 per litre, effective today (Monday).

ISLAMABAD: Petrol prices have been hiked by Rs3.04 per litre, following an official notification issued on Sunday. According to the new prices, effective from Monday, the will sell at Rs105.49 per litre, for one week.

The price of high speed diesel (HSD) has been slashed by Rs2.70 per litre, coming down to Rs110.46 from Rs113.16 per litre. It is the only petroleum product to witness a reduction in prices. The prices of the remaining POL products have been increased, in line with the recommendations the petroleum ministry forwarded to the finance ministry on Saturday.

Kerosene rate has gone up by Rs0.72 to Rs101.95 per litre and light diesel oil by Rs0.48 to Rs96.70 per litre. Jet fuels JP-1, JP-4 and JP-8 prices have gone up by Rs 0.72, Rs0. 44 and Rs0.72, reaching Rs91.14, Rs82.94 and Rs90.38 per litre respectively.

The price of compressed natural gas (CNG) has been hiked as well to maintain 60% parity with petrol prices. In Region I (Balochistan, Khyber-Pakhtunkhwa) they have gone up to Rs93.79 per kg, rising by Rs2.78, while in Region II (Sindh, Punjab) prices have risen to Rs85.68, up by Rs2.54.

Following a fortnight of steady increases in prices, consumers got some relief the past week when the price of petrol was cut by Rs6 per litre, bringing it down to Rs102.45.

Published in The Express Tribune, October 8^th, 2012.