The government on Saturday night announced up to Rs 8.94 per litre and Rs 11.57 per kg historic increase in POL and CNG prices, respectively, effective April 1 (Sunday). The Oil and Gas Regulatory Authority (Ogra) issued separate notifications of hike in oil and CNG prices to be affective from today.
The government raised price of petrol by Rs 8.02 per litre, High Speed Diesel (HSD) Rs 4.70 per litre, kerosene oil Rs 5.29 per litre, High Octane Blending Component (HOBC) Rs 8.94 per litre and Light Diesel Oil (LDO) Rs 5.45 per litre. The price of petrol has jumped to Rs 105.68 per litre from Rs 97.66 per litre, LDO Rs 98.74 per litre from Rs 93.29 per litre, kerosene oil Rs 101.96 per litre from Rs 96.40 per litre, HOBC Rs 135.81 per litre from 126.87 per litre and HSD Rs 108.16 from Rs 103.46 per litre.
Earlier the government had decided to keep price of HSD unchanged till June 2012, but now it has increased HSD price turning down the decision taken by special parliamentary body on oil pricing. In region-1, CNG price has been increased by Rs 11.57 per kg and Rs 9.93 per kg in region-2. The price of CNG has been increased from Rs 77.12 per kg to Rs 88.70 per kg in KP, Balochistan and Potohar Region (Rawalpindi, Islamabad and Gujjar Khan) and Rs 71.05 per kg to 80.98 per kg in Sindh and Punjab (excluding Potohar Region).
The government has imposed 20 per cent Gas Infrastructure Development Cess (GIDC) on CNG in a bid to collect revenue for gas pipeline projects including IP and TAPI. The price of CNG has also been brought at 55 per cent parity of petrol. Earlier, CNG price was at 53 per cent parity of petrol. Ogra authorities said that it was the decision of federal government to raise prices of CNG and it had not sent any advice to the government.
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