Prices of Petrol, Compressed Natural Gas (CNG) and High Speed Diesel (HSD) are likely to go down by Rs 2.70 per litre, Rs 2.5 per litre and Re 1 per litre respectively, while prices of other Petroleum, Oil and Lubricants (POL) are expected to increase in the range of Rs 1.2 to Rs 4.5 per litre from July 16.
According to sources familiar to the fluctuations of the fuel prices, at present in the global market prices of Petrol (MoGas) and HSD are declining and prices of other POL products are increasing so in line with international trend local prices of petrol and HSD would decline and other products would increase.
Currently different POL products are being sold on following prices: HOBC Rs 106.88/ltr, premium (Petrol) Rs 84.49/Ltr, HSD Rs 97.21/ltr, LDO Rs 83.71/ltr and Kerosene Oil Rs 86.25 /ltr.
If the government is following international fuel price trend from July 16 petrol will be available at Rs 81.70 per litre and HSD at Rs 96.21 per litre. While, prices of HOBC would go up to Rs 111.38 per litre, LDO Rs 84.91 per litre and Kerosene Oil Rs 87.85 per litre.
Sources said that HOBC price is expected to increase by Rs 4.5 per litre, kerosene oil by Rs 1.60 per litre and Light speed Diesel by Rs 1.20 per litre.
Due to expected reduction in the petrol price the government would also reduce Compressed Natural Gas (CNG) price by Rs 2.5 per kg.
During past one and a half months prices of POL products were significantly reduced in the country due to reduction in global market. The government and the All Pakistan CNG Association last month signed an agreement to keep parity of 60 percent between the petrol and CNG price. Last month, the government following a reduction in petrol price reduced CNG prices by over Rs 9 per kg.
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