Petroleum prices likely to swell by Rs 5.77 per litre

Petroleum prices likely to swell by Rs 5.77 per litre
Petroleum prices likely to swell by Rs 5.77 per litre

ISLAMABAD: Consumers are likely to face consecutive hikes in the oil prices which are likely to increase by Rs 5.77 per litre while power tariff will also be increased by 30 percent increase from Oct 01.

Official sources informed that in a summary moved by the Oil and Gas Regulatory Authority (OGRA) to petroleum and finance ministries, OGRA proposed not to pass on the increase in oil prices by adjusting the rate of Petroleum Levy (PL) on petroleum products to provide relief to the consumers. Officials said that consumers would be facing an increase in inflation if the government raised oil prices for next month of September.

The source in the ministry of Petroleum and Natural resources told the price of petrol (Motor Gasoline) mostly used in transport sector as substitute fuel for light vehicles is likely to increase by Rs 5.45 per litre while price of High Octane Blended Component (HOBC) will be increase by Rs 5.77 per litre.

The source told that price of Kerosene oil commonly used in domestic use in remote areas where LPG gas is not available for cooking is likely to increase by Rs 2.14 per litre and price of high Speed Diesel (HSD) used in industrial and agriculture sector has been proposed to increase by Rs 2.63 per litre. Likewise, price of light diesel (LDO) is also about to increase by Rs 2.81 per litre.After this increase, the new price of Petrol (MS) will be Rs 114.58 per litre as of its current price of Rs 109.13 per litre. New price of HOBC will be Rs 143.90 per litre from its current price that is Rs 138.33 per litre.

The source told that price of kerosene oil will be increase from Rs 105.99 to Rs 108.13 per litre while price of HSD will be increased from recent price of Rs 112.26 per litre to Rs 114.89 per litre. After surge of Rs 2.81 per litre new price of Light Diesel Oil (LDO) will be Rs 101.24 from its present price of Rs 98.43 per litre.Meanwhile, price of jet fuel likely JP-1 has been proposed to increase by Rs 2.13, JP-4 by Rs 3.06 and JP-8 by Rs 2.12 per litre. – OnlineNews