Steep costs: Oil prices hiked by Rs 4.71 per litre
Government provides a subsidy of Rs1.07 per litre in the price of high speed diesel.
The government passed full impact of increase in prices on all petroleum products except HSD to the consumers.
ISLAMABAD:
The government on Saturday raised oil prices by Rs4.71 per litre following fluctuation in global oil prices effective from Sunday (today).
Prime Minister Nawaz Sharif directed a partial increase of Rs2.50 per litre in the price of High Speed Diesel (HSD), mostly used in the agriculture and transport sector. Conclusively, an increase of Rs3.57 per litre was proposed in price of HSD.
Moreover, the government has given a subsidy of Rs1.07 per litre in the price of HSD to facilitate the consumers, said a senior government official. The total subsidy on HSD now stands at Rs3.63 per litre.
On the other hand, the government has passed the full impact of increase in prices on all other petroleum products, contravening a Oil and Gas Regulatory Authority (Ogra) proposal to petroleum and finance ministries on Friday to only partially pass on increase in oil prices.
Ogra had urged that adjustment of petroleum levy (PL) on petroleum products was not appropriate.
The price of petrol has gone up by Rs4.64 per litre from the existing Rs104.50 to Rs109.14 per litre. This fuel is used by motorists as auto vehicles mainly use Compressed Natural Gas (CNG).
Second, HSD faces an increase of Rs3.57 per litre to Rs113.33, up from the existing Rs109.76 per litre. However, with the subsidy adjustment, the new price of HSD stands at Rs112.26 per litre.
Thirdly, Kerosene oil, used for cooking purposes in some areas where Liquefied Petroleum Gas (LPG) is not readily available, has witnessed a hike of Rs4.71 per litre, raising its price from Rs101.28 to Rs105.99 per litre.
Fourthly, the price of Light Diesel Oil (LDO), mainly used for industrial purposes, has been increased to Rs2.31 per litre, from Rs96.12 to Rs98.43 per litre.
The price of High Octane Blending Component (HOBC) mainly used in luxury cars, has been raised by Rs5.89 per litre from the existing price of Rs132.44 to Rs138.33 per litre.
The price of jet fuel. JP-1 has been hiked by Rs10, JP-4 by Rs4.12 and JP-8 by Rs4.40 per litre, bringing the new prices to Rs99.88, Rs86.46 and Rs93.95 per litre respectively.
The government on Saturday raised oil prices by Rs4.71 per litre following fluctuation in global oil prices effective from Sunday (today).
Prime Minister Nawaz Sharif directed a partial increase of Rs2.50 per litre in the price of High Speed Diesel (HSD), mostly used in the agriculture and transport sector. Conclusively, an increase of Rs3.57 per litre was proposed in price of HSD.
Moreover, the government has given a subsidy of Rs1.07 per litre in the price of HSD to facilitate the consumers, said a senior government official. The total subsidy on HSD now stands at Rs3.63 per litre.
On the other hand, the government has passed the full impact of increase in prices on all other petroleum products, contravening a Oil and Gas Regulatory Authority (Ogra) proposal to petroleum and finance ministries on Friday to only partially pass on increase in oil prices.
Ogra had urged that adjustment of petroleum levy (PL) on petroleum products was not appropriate.
The price of petrol has gone up by Rs4.64 per litre from the existing Rs104.50 to Rs109.14 per litre. This fuel is used by motorists as auto vehicles mainly use Compressed Natural Gas (CNG).
Second, HSD faces an increase of Rs3.57 per litre to Rs113.33, up from the existing Rs109.76 per litre. However, with the subsidy adjustment, the new price of HSD stands at Rs112.26 per litre.
Thirdly, Kerosene oil, used for cooking purposes in some areas where Liquefied Petroleum Gas (LPG) is not readily available, has witnessed a hike of Rs4.71 per litre, raising its price from Rs101.28 to Rs105.99 per litre.
Fourthly, the price of Light Diesel Oil (LDO), mainly used for industrial purposes, has been increased to Rs2.31 per litre, from Rs96.12 to Rs98.43 per litre.
The price of High Octane Blending Component (HOBC) mainly used in luxury cars, has been raised by Rs5.89 per litre from the existing price of Rs132.44 to Rs138.33 per litre.
The price of jet fuel. JP-1 has been hiked by Rs10, JP-4 by Rs4.12 and JP-8 by Rs4.40 per litre, bringing the new prices to Rs99.88, Rs86.46 and Rs93.95 per litre respectively.