Consumers are hoping to get some relief as the price of petrol is expected to come down by Rs2.09 to Rs103.40 per litre from Monday following easing of prices in the international market. Last week, the petrol price went up by Rs3.04 per litre.
The decline in the price of petrol will also bring down the price of compressed natural gas (CNG), pegged at 60% of petrol rate. CNG will be cheaper by up to Rs1.92 per kg.
However, after a continuous decline for two weeks in prices of high-speed diesel, which is mostly used in transport vehicles and agriculture tube wells, the price is expected to rise by Rs3.16 to Rs113.62 per litre, according to a summary prepared by the Ministry of Petroleum and Natural Resources.
The ministry has submitted the summary to the finance ministry for the weekly revision in prices of petroleum products, which will take effect from Monday. Except for petrol, all other petroleum products, including kerosene oil, will become dearer.
Though the finance ministry has asked the Oil and Gas Regulatory Authority (Ogra) not to recommend any reduction in oil prices, in the case of diesel it has suggested to the government to keep the price at current level by absorbing the increase through a cut in petroleum levy, officials say.
Every increase in the price of diesel has a direct bearing on the lives of many people with increasing pressure on inflation and high input cost of farming.
In the previous two revisions on September 30 and October 8, the diesel price was slashed by Rs0.14 and Rs2.70 per litre.
Kerosene oil, used for cooking purposes in remote areas, especially northern areas, where liquefied petroleum gas (LPG) is not available, is also likely to be expensive by Rs1.92 to Rs103.87 per litre. Last week, its price rose by Rs0.72 per litre.
The price of light diesel oil, having demand for industrial purposes, will increase by Rs1.23 to Rs97.93 per litre.
The price of high octane blending component (HOBC), a deregulated product consumed in luxury vehicles, may go up by Rs2.96 to Rs134.39 per litre based on freight for Islamabad. For Karachi, the price will rise by the same amount, but the product will become cheaper in Multan, which is close to the refinery producing HOBC.
Pak Arab Refinery Company (Parco) is the only one producing HOBC in the country and is located in Mahmood Kot, near Multan.
Prices of jet fuels – JP-1, JP-4 and JP-8 – may increase by Rs1.94, Rs2 and Rs1.94, reaching Rs93.08, Rs84.94 and Rs92.77 per litre respectively.
CNG price in region-I, comprising Balochistan and Khyber-Pakhtunkhwa, will go down by Rs1.92 to Rs94.66 per kg. In region-II – Sindh and Punjab – the price will decrease by Rs1.74 to Rs86.48 per kg.
Published in The Express Tribune, October 14th, 2012.
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@Jawed: Do not worry about %.Till the time you can buy the product and get the job done then be happy.
Can any one please explain how the current CNG prices (Rs 88.22/kg) are pegged at 60% of the petrol prices (Rs 105.49/liter). According to my calculation, currently CNG prices are at 83.6% of petrol prices in Pakistan.
Iin USA, oil prices change every few hrs to everyday.There is no re assurance what will be the price in the next hour. This is the level of uncertaitty.So in Pakistan, oil prices are changed every one to two wks, I will take it as blessing.