News
Friday, June 29, 2012
POL prices to further decrease by Rs 6.48/litre* Petrol price to be slashed by Rs 5.02 per litre; new price to be Rs 84.49 per litre
By Zeeshan Javaid
ISLAMABAD: Keeping in view the visible decline in price of crude oil in the international market, the Oil and Gas Regulatory Authority (OGRA) proposed a reduction in the price of petroleum, oil and lubricant (POL) products up to Rs 6.48 per litre in the local market.
OGRA sources said that a summary regarding the reduction in prices of POL products had been sent to the Petroleum Ministry, while the final decision would be mutually taken by petroleum and finance divisions on June 30.
Officials said the authority recommended reduction of Rs 5.02 per litre in existing price of petrol, Rs 6.48 per litre for high octane, Rs 2.48 per litre for high-speed diesel (HSD), Rs 2.86 per litre for light-diesel oil (LDO), and Rs 2.54 per litre for kerosene oil.
After implementation of the recommendation, the price of petrol is likely to come down to Rs 84.49 per litre from existing Rs 89.51 per litre, HOBC to Rs 106.84 per litre from Rs 113.32 per litre, HSD to Rs 97.21 from Rs 99.69 per litre, kerosene oil to Rs 86.25 per litre from Rs 88.79 per litre, and LDO to Rs 83.71 from its existing price of Rs 86.57 per litre.
The federal government announced on June 15 a massive decrease of up to Rs 11.75 per litre in POL prices, effective until the end of June, while OGRA’s recent proposal will bring down POL prices further by up to Rs 6.48 per litre for the first 15 days of July.
During the first phase of price determination on a fortnightly basis, the government decreased petrol price to Rs 89.51 per litre from Rs 99.97 per litre, HOBC to Rs 113.32 per litre from Rs 125.07 per litre, HSD to Rs 99.69 from Rs 105.77 per litre, kerosene oil to Rs 88.79 per litre from Rs 94.05 per litre, and LDO to Rs 86.57 per litre from Rs 91.59 per litre in the first 15 days of June.
Courtesy www.dailytimes.com.pk