Price of HSD slashed, providing some relief to consumers. PHOTO: FILE
The government on Friday increased the price of petrol by Rs2.18 per litre, in line with the surge in global oil prices. The hike takes effect on Saturday (today). The price of high speed diesel (HSD), however, has been slashed, providing some relief to consumers.
The new price of petrol now stands at Rs99.77 per litre, up from the previous rate of Rs97.59. The prices of HSD, light diesel oil (LDO), high-octane blended component (HOBC) and kerosene now stand at Rs104.60, Rs89.06, Rs124.41 and Rs94.17 per litre, respectively.
On Thursday, the Oil and Gas Regulatory Authority (Ogra) moved a summary to the ministries of finance and petroleum, seeking their approval to implement the new prices from June 1 onwards. The regulator had recommended that the hike in petrol prices should not be passed on to consumers by adjusting the petroleum levy (PL). However, the finance ministry turned down the proposal and insisted that the surge in petrol price be passed on to consumers.
In its summary, Ogra calculated a Rs2.18 increase in the price of petrol and a Rs0.84 increase in HOBC’s price. However, prices of HSD, LDO and kerosene were to be slashed.
Published in The Express Tribune, June 1st, 2013.
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