The prices of diesel, kerosene and LPG were higher in Pakistan, Sri Lanka and Nepal compared to India, Bangladesh and Bhutan, data collected by Business Recorder revealed. Diesel costs Rs 92.10 per litre in Pakistan and is available at Rs 71.69 Pakistani rupees in India, Rs 50 in Bangladesh and Rs 70 in Bhutan.
The price of kerosene in India is also the cheapest in the region and is 66 percent lower than the price in Pakistan, 65 percent lower than Nepal, 47 percent lower than Bangladesh and 41 percent lower than Sri Lanka. The price of domestic LPG cylinder in India is the cheapest in the region and is 55 percent lower than the price in Sri Lanka, 52 percent lower than Nepal, 35 percent lower than Pakistan and 18 percent lower than Bangladesh.
Currently average diesel price in India is Rs 40.75 per litre, kerosene price is Rs 14.32 per litre which previously was being sold at Rs 12.32 per litre. Domestic LPG cylinder is being sold at Rs 395.35 (Indian Rupee) per 14 kg cylinder, which previously was available at Rs 345.35. The recent price hike works out to 7.9 percent for diesel, 14.4 percent for LPG and the highest - 22 percent - in the case of kerosene.
In spite of the increase in prices, the Government of India is still providing a subsidy of Rs 6.13 per litre on diesel, Rs 353.72 per domestic LPG cylinder, and Rs 24.98 per litre on PDS kerosene. The Indian government had in June last year increased the price of diesel by Rs 2 a litre and that of LPG by Rs 35 a cylinder and kerosene by Rs 3 a litre. Cooking gas is now costlier by Rs 85 per cylinder.
Petroleum products are being sold at following prices in Pakistan: petrol at Rs 83.71 per litre, kerosene oil Rs 84.65 per litre, LDO Rs 81.39 per litre, HSD Rs 92.10 per litre, HOBC Rs 100.46 per litre, JP-1 Rs 81.54 per litre, JP-8 Rs 79.45 per litre and JP-4 Rs 73.16 per litre.
On the basis of regional currencies exchange rate, petrol is costlier in India and is being sold at Rs 63.37 per litre, or at Rs 111 equivalent in Pakistani rupees. Bangladeshi government recently fixed following prices of POL products: petrol at 76 taka per litre, octane at 79 taka per litre, diesel and kerosene at 46 taka per litre and furnace oil at 42 taka per litre. A litre of petrol costs Bhutanese Ngultrum (Nu) 44.35, diesel costs Nu 35.17 per litre, kerosene Nu 10.22 per litre and a LPG cylinder costs Nu 337.28.
Recently the Bangladeshi government jacked up the price of petrol, octane, diesel, kerosene oil and furnace oil by 2 taka a litre. Price of a litre of petrol has been fixed at 76 taka (104 US cents) a litre, octane at 79 taka, diesel and kerosene at 46 and furnace oil at 42 taka.
Bangladesh Petroleum Corporation, the country's sole oil importer and distributor, is currently paying 33.44 taka a litre as subsidy for diesel, 32.49 taka for kerosene, 8.20 taka for octane and 12.96 taka for furnace oil. A net oil importer, Sri Lanka sources much of its petroleum products from Iran, Saudi Arabia and Malaysia and the increasing international prices forced the latest retail price hike. Gasoline prices increased by 10 rupees to 143 rupees (1.3 dollars) a litre while diesel, which is widely used by public transport, was raised by 3.5 percent to 93 rupees.
The rise in fuel prices is expected to fuel inflation which was registered at 8.6 percent in March, the highest in more than two years, due to shortage of food following the massive flooding earlier in the year. In Nepal, the price of different POL products, are as follows: petrol at Rs 102 (Nepalese Rupee), diesel at Rs 68.50 per litre, kerosene at Rs 68.5 per litre and domestic LPG gas cylinder at Rs 1,325 per 14 kg cylinder.
The government of Bhutan, which follows the Indian pricing policy on petroleum and products, raised the price of different POL products after the Indian government raised prices on June 26, 2011. Bhutan raised price of petrol by Nu 2.44 a litre and diesel by Nu 2.45 per litre in early March. The prices of kerosene and LPG were not revised.