Pakistan News Service

Friday Sep 29, 2023, Rabi-al-awwal 14, 1445 Hijri
Pakistan News Home -> Top -> News Details

POL prices slashed by Rs 5.61 per litre

01 April, 2014

  Related News  
SC orders govt to 'fix' POL, electricity prices
Massive hike in POL, power rates from today
  Related Speakout  
Hike In Petroleum Prices
  More on this View All
  Related News Poll

ISLAMABAD: The government on Monday notified a cut of up to Rs 5.61 per litre in the prices of petroleum products as per the recommendations of the Oil and Gas Regulatory Authority (OGRA) with effect from today (April 1).

According to the notified oil prices for the month of April, petrol will now be sold for Rs 108.3/litre, HOBC Rs 136.57 , kerosene Rs 101.15 for, high-speed diesel (HSD) Rs 113.85, and light diesel oil at Rs 95.06. Earlier, OGRA in a summary dispatched to the finance and petroleum ministries recommended a decrease in price of petrol by Rs 1.72 per litre, HOBC by Rs 4.66 per litre, kerosene by Rs 5.61 per litre, high-speed diesel by Rs 2.90 and light diesel oil by Rs 5.16 per litre.

Sources in the Finance Ministry told this scribe that the government has endorsed the recommendation of OGRA and also approved increase in the component of petroleum levy (PL) and sales tax imposed on high octane blended component by Rs 1.12/litre in. Similarly, Rs 0.49/litre hike in PL and sales tax of kerosene oil, HSD Rs 1.10/litre, LDO Rs 0.30/litre. With the decision of giving raise in the PL, the component of levy (PL) imposed in the per litre price of HOBC has reached at Rs 14/litre, kerosene Rs 3/litre, diesel Rs 8/litre, and LDO at Rs 3/litre, they added.

"The levy on POL prices has now reached at maximum budgeted level while the government was already charging budgeted levy of Rs10/litre on petrol," said a senior official at finance ministry on the condition of not to be named. With this decrease in oil prices, the inflation-hit masses would find a sigh of relief already bearing heavy brunt of sky rocketing POL prices coupled with power tariff for a long time. The common man would also find help assistance in the form of reduced prices of essential commodities besides managing monthly domestic budget to run a household amicably this time at least for one month.

It is, however, worth mentioning that the approval to decrease the prices of petroleum products has been made in the wake of declining crude oil prices in the Gulf market. The prices in the international market have dropped by $3 per barrel in the recent days. Upward trend in the value of Pakistani rupee is also a factor this time contributed to ensure relief to the over burdened masses.


 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Military Courts
Imran - Qadri long march
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
Pakistan itself a victim of state-sponsored terrorism: Qamar Bajwa
Should You Try Napping During the Workday?
Suggested Sites