HSD, kerosene rates up: Petrol, CNG prices reduced

Weekly prices announced despite opposition in National Assembly.

ISLAMABAD:

After hikes for two consecutive weeks, the government on Sunday lowered petrol prices by Rs2.09 per litre for the next week in line with the summary submitted by the petroleum ministry to the finance ministry.

Under the rate revision, petrol prices have come down to Rs103.40 from last week’s Rs105.49 — because of the decline in the international market.

Compressed Natural Gas (CNG) also witnessed a corresponding drop in price by as much as Rs1.92 per kg. CNG prices maintain 60% parity with those of petrol.

Effective from Monday, prices in Region I (Balochistan, Khyber-Pakhtunkhwa), are to come down from Rs96.58 to Rs94.66 per kg. Similarly CNG prices in Region II (Sindh, Punjab) are to post a Rs1.74 per kg decline, from Rs88.22 to Rs86.48 per kg.

On the other hand, High Speed Diesel (HSD), mostly used in transport and agriculture sectors, witnessed an increase of Rs3.16 per litre that took the rate from the existing Rs110.46 to Rs113.62 per litre.

Kerosene oil witnessed an increase of Rs1.92 per litre pushing it up to Rs103.87 from Rs101.95 per litre. Light Diesel Oil (LDO), used for industrial purposes, also posted an increase of Rs1.23 per litre, going up from its current rate of Rs96.70 to Rs97.93 per litre.

Price of High Octane Blending Component (HOBC) went up by Rs2.96 per litre to Rs134.39 from Rs131.44 per litre based on Islamabad freight.

Jet fuels JP-1, JP-4 and JP-8 prices went up by Rs1.94, Rs2 and Rs1.94, reaching Rs93.08, Rs84.94 and Rs92.77 per litre respectively.

The decision was taken despite a unanimous approval of opposition-sponsored resolution against the weekly revision of petroleum products’ prices.

Published in The Express Tribune, October 15^th, 2012.