The government is likely to increase Petroleum, Oil, Lubricant (POL) products prices by up to Rs 8 per litre and CNG by Rs 6 per kg, it has been learnt. According to Petroleum Ministry officials, the POL prices are expected to soar in the country, following an increase in international crude oil prices. Sources said that OGRA had already finalised the new price list of POL products, which are likely to be increased by next week.
According to the report, petrol prices would be increased by Rs 6.30, High Octane by Rs 8, Kerosene Oil by Rs 5.70 and High Speed Diesel by Rs 6 per liter. After Eid-ul-Fitr, it would be the second increase in petrol and CNG prices, as the government, on August 23, jacked up petrol price by Rs 3.21 per litre, High Octane Blending Component (HOBC) by Rs 4.85 per litre, kerosene Rs 3.52 per litre, high speed diesel (HSD) Rs 4.40 per litre and light diesel oil (LDO) by Rs 3.19 per litre.
The price of petrol has risen from Rs 93.57 to Rs 96.78 per litre, HOBC from Rs 120.16 to Rs 125.01 per litre, kerosene from Rs 92.83 to Rs 96.35 per litre, HSD from Rs 101.79 to Rs 106.19 per litre and LDO from Rs 90.11 to Rs 93.30 per litre. Moreover, the rate of CNG for Region-I--Potohar, Balochistan and Khyber-Pakhtunkhwa--was raised by Rs 3.21, setting the new price at Rs 88.61/kg, while for Region-II--Punjab and Sindh--it has increased by Rs 2.68, bringing it up to Rs 80.94/kg.
Sources said that the government was set to increase POL and CNG prices on the pretext of a hike in international oil price. Sources added that the hike in POL price could be from Rs 5 to Rs 8. Due to the hike in POL products, the CNG price would also increase by Rs 5.80 per kg. The government has decided to review petroleum product prices on a weekly basis, instead of fortnightly.
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