The government on Tuesday reduced petroleum products' prices up to Rs 2.95 per litre, effective from October 1. According to a notification issued by the government, petrol price has been reduced by Rs 2.95 per litre, kerosene by Rs 1.31 per litre, High Speed Diesel (HSD) by Rs 0.95 per litre, Light Diesel Oil (LDO) by Rs 0.67 per litre and High Octane Blending Component (HOBC) by Rs 1.88 per litre.
After the current reduction in petroleum products prices, petrol will be sold at Rs 103.62 after a reduction of Rs 2.94; High Octane Blending Component (HOBC) will be available at Rs 131.13 per litre with reduction of Rs 1.88; kerosene will be available at Rs 95.60 per litre after a cut of Rs 1.31 per litre; High-Speed Diesel (HSD) will be sold at Rs 107.39 per litre, which has been reduced by Rs 0.95 per litre; and light diesel oil (LDO) will be sold at Rs 91.46 per litre, which has been reduced by Rs 0.67 per litre.
According to Petroleum Ministry sources, at present prices of petroleum products in the international market have witnessed a decline, but Pakistani consumers have been deprived of a massive relief due to the on-going political crisis. "If the country was not subject to nationwide protests and sit-ins in the federal capital, the masses would have received a relief of Rs 6 per litre in the price of petrol, high speed diesel would have been reduced by at least by Rs 5.50 per litre, while the price of kerosene would have been reduced by Rs 5.87 per litre," a senior Petroleum Ministry official said.
Local consumers have missed a relief of Rs 12 billion during past two months as a result of Pakistani currency's value against the US dollar has reduced almost by Rs 5 from the exchange rate of $1:Rs 98 before the start of Islamabad sit-ins to $1:Rs 103 as a result of rupee's devaluation against the US dollar.
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