Oil prices are likely to go up by Rs 3.66 per litre effective from July 1 onwards. PHOTO: FILE
ISLAMABAD:
Oil prices are likely to go up by Rs 3.66 per litre effective from July 1 onwards, dealing another blow to the masses – already reeling from burgeoning inflation.
The increase follows fluctuation in global oil prices and an increase in rate of general sales tax (GST).
However, in a bid to protect consumers and provide relief, a summary moved by Oil and Gas Regulatory Authority (Ogra) to the petroleum and finance ministries on Friday, proposes not to pass on the price increase by adjusting the rate of petroleum levy on oil and gas products.
According to the summary, the consumers of High Speed Diesel (HSD), will face an increase of Rs3.66 per litre. This will bring the price of HSD up to Rs108.26, from the existing Rs104.60 per litre.
The price of petrol may go up to Rs 2.66 per litre from Rs 99.77 to Rs 102.43 per litre. Kerosene oil may witness a hike of Rs 2.50 per litre. The price of Light Diesel Oil may witness an increase to the tune of Rs3.04 per litre. The price of High Octane Blending Component (HOBC) may rise by Rs 2.36 per litre.
Published in The Express Tribune, June 29th, 2013.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ