POL prices to go up by Rs 4.99 per litre

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The government is set to raise the prices of petroleum products by as much as Rs 4.99 per litre from August 1 due to fluctuation in international oil prices.

In a summary sent to the Petroleum and Finance ministries on Tuesday, the Oil and Gas Regulatory Authority (OGRA) proposed not to pass on the increase in oil prices and adjusting the rate of Petroleum Levy (PL) on petroleum products to provide relief to consumers before Eid.

Sources said the Finance Ministry may oppose the proposal as it aims to boost revenue collection. However, the final decision would be taken by Prime Minister Nawaz Sharif.

The sources said the government could keep the prices unchanged until Eid but it would announce them on Wednesday (today) after Nawaz’ approval.

Following a hike in POL prices in the international market, the price of petrol may be increased by Rs 2.73 per litre, high speed diesel by Rs 4.50 per litre, Light Diesel Oil by Rs 3.95 per litre and the price of kerosene oil may be increased Rs 4.99 per litre.

According to a summary, the consumers of high speed diesel, which is used mostly by the transport and agriculture sectors, may face an increase of Rs 4.50 per litre, which will bring its price from Rs 106.76 per litre to Rs 111.26 per litre.

The price of petrol may go up by Rs 2.73 per litre from the existing Rs 101.77 to Rs 104.50 per litre.

Kerosene oil, used for cooking purposes in remote areas where liquefied petroleum gas is not readily available, may witness a hike of Rs 4.99 per litre, bringing its price up from Rs 96.29 to Rs 101.28 per litre.

The price of light diesel oil, mainly used for industrial purposes, may witness an increase of Rs 3.95 per litre, taking the current price of Rs 92.17 to Rs 96.12 per litre.

The price of JP-1 may witness a hike by Rs 4.98, JP-4 by Rs 4.48 and JP-8 by Rs 4.98 per litre, bringing up their prices to Rs 89.88, Rs 82.34 and Rs 89.55 per litre respectively.

4 COMMENTS

  1. GOVERNMENT OF DAY WORSE THAN ZARDARI,DR ASIF,RENTAL PERVAIZ,NAVED QAMAR,THOUSAND TIME WORSE THAN HAFEEZ SHEIKH.THE PRESENT FINANCE MINISTER IS ENEMY OF POOR.WORSE AND WORSE IS EXPECTED OF THEM

  2. Nawas shreef promised before election if elected he will bring the petrol price to 1990 level..

  3. If the oil prices are not in line with the global prices the government High speed diesel is also used in Cars having diesel engine, generator has to bear the subsidy to keep the prices low.. Petroleum is used in the cars which are owned by affluent people . so why a subsidy to affluent populace? High speed diesel is used in diesel engine cars & generators and should not be subsidized but the govt. might have used the excuse that generators are being used in fields too for irrigation purposes too. HSD should not be subsidized. the news did not indicate in kerosene oil ( used by poor) price increase.

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