ISLAMABAD: The government on Wednesday increased the prices of petrol by Rs 2.98 per litre and High Speed Diesel (HSD) by Rs 5.92 for the month of February, 2018. The Oil and Gas Regulatory Authority (OGRA) had proposed the double digit increase in the rates of HSD by Rs 10.25 per litre, SKO by Rs 12.74 per litre and LDO by Rs 11.72 per litre on the basis of the increase in the prices of petroleum products in the international market.
The government, however, decided to reduce the impact on the consumers through adjustment in the applicable levies.
The price of High Speed Diesel has been increased by Rs 5.92, from Rs 89.91 per liter to Rs 95.83.The product is widely used in transport and agriculture sector and therefore, increase in its price would lead to hike in inflationary rates.
Petrol was increased by Rs 2.98 per litre from existing Rs 81.53 to Rs 84.51 per litre. The supply of indigenous gas has been suspended to compressed natural gas (CNG) retail outlets in Punjab and therefore, the demand of petrol had been increased for use in vehicles. The price of kerosene oil has been increased by Rs 5.94 per litre from Rs 64.32 to Rs 70.26 per litre. The kerosene is being mixed in high speed diesel and therefore, the product had been facing shortage in local market. The price of Light Diesel Oil (LDO) has also been increased by Rs 5.93 from Rs 58.37 to Rs 64.30 per litre.
Published in Daily Times, February 1st 2018.
