Minor cut in POL prices rejected

Like other parts of country, the consumers in Multan have also rejected the trivial reduction in petroleum products (POL) prices, saying that such meagre cut in POL prices is nothing shoort of 'a drop in the ocean'. People from all walks of life sharply reacted to this cut in POL products prices on Monday.
The Multanites said cutting just a few paisa in POL prices can not be justified as the government always raises prices by many rupees. Most of the Multanites urged the government to provide people relief by barring sky-high inflation.
The prices of petroleum products will decrease by one to four percent with an immediate effect from Monday as motor gasoline (petrol) tumbled by less than one percent from Rs 71.21 to Rs 70.57 per litre and HOBC (high octane blending component) also by one percent to Rs 86.06 from Rs 86.84 per litre.
The price of kerosene oil plummeted by four percent (Rs 2.56 per litre) from Rs 64.06 to Rs 61.50 per litre and light diesel by three percent (Rs 1.60 per litre) to Rs 59.47 from Rs 61.07 per litre. The price of high speed diesel has declined by three percent (Rs 1.97) to Rs 70.09 from Rs 71.99 per litre.This relief stands nowhere if compared to the massive hike of five to nine percent in petroleum prices, which the government passed on to end consumers from February 1.
The reduced prices from March 1 are still high and unaffordable for end consumers. Last month, the price of petrol surged by Rs 6.10 from Rs 65.11 to Rs 71.21 per litre, HOBC by Rs 7.41 to Rs 86.84 from Rs 79.43 per litre. Also, the Ogra from February 1 raised the price of high speed diesel to Rs 71.99 per litre from Rs 68.56 by Rs 3.33 per litre, kerosene oil by five per cent from Rs 60.75 to Rs 64.07 per litre, light diesel oil by five per cent to Rs 61.07 from Rs 58.10 per litre.
However, the Ogra this time passed on a nominal decline in prices after matching with the decrease in Gulf petroleum product prices over the month of February 2010. According to the press release issued by the Ogra, prices of petrol went down in Gulf market by one percent, kerosene oil by four percent, furnace oil by five percent and high-speed diesel by three percent.