Pakistan raises fuel prices again
Tuesday, 2 February 2010
ISLAMABAD, Feb 01 (Commodity Online): Pakistan on Sunday announced yet another increase in fuel prices.
Country's Oil and Gas Regulatory Authority (OGRA) has announced the new oil prices of petroleum products with increase of Pak Rs 6.10 per litre in petrol price, Pak Rs 7.41 per litre in HOBC, Pak Rs 2.97 per litre in light diesel and Pak Rs 3.32 per litre in kerosene oil prices.
The new maximum ex-depot prices of petroleum products, based on import parity price formula approved by the federal government would be effective from February 1.
According to the notification issued by OGRA, as per new prices, the petrol price will be Pak Rs 71.21 per litre, HOBC Pak Rs 86.84 per litre, light diesel Pak Rs 61.07 per litre and new price for kerosene oil will be Pak Rs 61.07 per litre.
Ogra said the prices had been increased because of a surge in the international market after adjusting depreciation in exchange rate during January of about 0.6 per cent.
Since July, petroleum prices have been increased four times and reduced twice. Pakistan reduced petroleum prices by 1.3 to 3.5 per cent last month.
Country's Oil and Gas Regulatory Authority (OGRA) has announced the new oil prices of petroleum products with increase of Pak Rs 6.10 per litre in petrol price, Pak Rs 7.41 per litre in HOBC, Pak Rs 2.97 per litre in light diesel and Pak Rs 3.32 per litre in kerosene oil prices.
The new maximum ex-depot prices of petroleum products, based on import parity price formula approved by the federal government would be effective from February 1.
According to the notification issued by OGRA, as per new prices, the petrol price will be Pak Rs 71.21 per litre, HOBC Pak Rs 86.84 per litre, light diesel Pak Rs 61.07 per litre and new price for kerosene oil will be Pak Rs 61.07 per litre.
Ogra said the prices had been increased because of a surge in the international market after adjusting depreciation in exchange rate during January of about 0.6 per cent.
Since July, petroleum prices have been increased four times and reduced twice. Pakistan reduced petroleum prices by 1.3 to 3.5 per cent last month.