The government on Thursday announced nominal cut in petrol prices in line with reduction in global prices effective today (Friday). However, the government raised prices of some products such as kerosene oil, JP-1, JP-4 and JP-8 in line with hike in global prices.
Addressing a press conference, Syed Jawad Naseem spokesman for Oil and Gas Regulatory Authority (Ogra) said prices of petrol, HOBC, High Speed Diesel (HSD) and Light Diesel Oil (LDO) have been slashed by Rs 0.27 per liter, Rs 0.29 per liter, Rs 0.78 per liter and Rs 0.33 per liter, respectively due to downward price trends in the international market.
The government raised price of kerosene oil by Rs 0.23 per liter, JP-1 (local) by Rs 0.20 per liter, JP-4 by Rs 0.60 per liter and JP-8 by Rs 0.20 per liter due to surge in prices of these petroleum products in global market. Price of HSD has been raised by Rs 1.57 per liter, Light Diesel Oil (LDO) Rs 1.32 per liter, kerosene oil Rs 0.72 per liter, JP-1 (local) Rs 0.69 per liter, JP-4 Rs 1.34 per liter and JP-8 Rs 0.69 per liter.
Responding to question about petrol shortage, he said the country faced shortage of petrol due to closure of Parco refinery, destruction of road infrastructure and lower stocks of fuel by Oil Marketing Companies (OMCs). He claimed that Ogra had deputed teams to inspect retail outlets in different parts of the country and issued show cause notices to OMCs for overcharging and creating petrol shortage.
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