Up to Rs5.57 hike in POL prices likely

ISLAMABAD: The prices of petroleum products may be increased up to Rs 5.57 per litre from October 1, 2013, it is learnt.

The Oil and Gas Regulatory Authority (Ogra), keeping in view the monthly trend of international/Saudi Aramco crude oil prices and deteriorating value of Pak rupee against the dollar has worked out an increase in major petroleum products’ prices in the range of Rs 2.14 per litre to Rs 5.57 per litre, effective October 1.

Currently, major petroleum products are selling at the following rates: Petrol Rs 109.13 per litre, High Octane Blending Component (HOBC) at Rs 138.33 per litre, kerosene oil at Rs 105.99 per litre, High Speed Diesel (HSD) at Rs 112.26 per litre; and Light Diesel Oil (LDO) at Rs 98.43 per litre.

The authority has recommended an increase of Rs 5.45 per litre in petrol price from Rs 109.13 per litre to Rs 114.58 per litre, Rs 5.57 in HOBC from Rs 138.33 per litre to Rs 143.90 per litre; Rs 2.14 per litre in kerosene oil from Rs 105.99 to Rs 108.13 per litre; Rs 2.63 per litre in HSD from Rs 112.26 per litre to Rs 114.89 per litre; and Rs 2.81 per litre in LDO from Rs 98.43 per litre to Rs 101.24 per litre.

A summary has been forwarded to the Petroleum Ministry and Ministry of Finance in this regard.

Ogra has recommended increase in prices of petrol by Rs5.45 per liter, kerosene oil by Rs2.14, high speed diesel by Rs2.63, light diesel oil (LDO) by Rs2.81 and high octane by Rs 5.57 per liter with effect from October 1.

The Ogra has also recommended to the government to maintain prices of petroleum products by absorbing petroleum levy.