Fuel prices: Petrol, HSD prices may be cut by Re1 from May 1

Prices of some other petroleum products likely to increase by up to Rs9.43 per litre

ISLAMABAD: Consumers are likely to get some relief as prices of petrol and High Speed Diesel (HSD) – fuels mainly used by the masses – will go down from May 1. However, the prices of some other petroleum products are likely to increase by up to Rs9.43 per litre following fluctuations in global oil prices.

The new prices will be notified following approval of Prime Minister Nawaz Sharif.

In this regard, Oil and Gas Regulatory Authority (Ogra) on Wednesday moved a summary to finance and petroleum ministries.

The price of petrol – whose demand suddenly went up in January following dip in oil prices and led to fuel shortage in Punjab – may go down to Rs73.29 per litre after a reduction of Rs1 per litre.

The price of HSD, which is widely used in transport and agriculture sector, may decline by Rs1.06 per litre to Rs82.55 per litre. The reduction will have direct impact on prices of commodities and agricultural supplies.



However, the price of kerosene oil, which is used in kitchen stoves in remote areas including Northern parts of the country, may rise by Rs2.11 per litre to Rs63.55 per litre.

The price of Light Diesel Oil (LDO) is also likely to go up to Rs61.32 per litre after Rs3.38per litre increase in its rate. This product is primarily used in industry.

Ogra has also recommended increasing price of High Octane Blending Component (HOBC) mainly used in luxury cars by Rs9.43 per litre. After the increase, the price of HOBC will shoot up to Rs89.74 per litre.

Government had made no change in price of the HOBC for the month of April. Ogra had proposed an increase of Rs7.66 per litre for the month.

Published in The Express Tribune, April 30^th, 2015.