Petrol price climbs to Rs 84.80

ISLAMABAD – The government increased prices of various petroleum products by Rs 11.09 to Rs 5.34 per litre except High Speed Diesel (HSD), in line with the price increases in the international markets, effective from August 1.
Announcing the increase in fuel prices on Sunday, Oil and Gas Regulatory Authority (OGRA) Spokesman Syed Jawad Naseem said in a statement that the price of petrol had been raised by Rs 2.13 to Rs 84.80 per litre from Rs 83.71 (a 1.3 percent increase) and light diesel oil to 83.52 from Rs 81.39 (a 2.6 percent increase).
Similarly, the price of kerosene went up by Rs 1.97 per litre from Rs 84.65 to Rs 86.62 (2.3 percent increase), while the Hi-Octane Blending Component (HOBC) price was raised by Rs 5.34 per litre from Rs 102.46 to Rs 107.80, OGRA said. The prices of HSD remained the same at Rs 92.10 per litre. The spokesman said that after the deregulation, OGRA rules had a very limited role to play in determining the prices.
The role of oil refining companies and oil marketing companies had increased after the de-regulation, he added. Criticism started pouring in from all quarters as the prices increased, with opposition parties Pakistan Muslim League-Nawaz, Jamiat Ulema-e-Islam-Fazl and the Muttahida Qaumi Movement rejecting the increase outright.