Petrol prices may rise by up to Rs5.60 per litre

[Leader]

POL prices may rise by up to Rs5.60 per litre


The 180 million people of Pakistan are likely to get exposed to a mammoth increase in the prices of petroleum products that would rise between Rs2.73 and Rs5.60 per litre from August 1.

Analysts say this will fuel inflation in the country as the prices of almost all items will surge on account of the cost of transportation as the diesel price may also go up by Rs3.80 per litre. The increase in petrol price is expected to be Rs2.73 per litre. It will also adversely impact the poor masses as transport which are unable to get CNG because of gas shortage in the country will charge more.

The price of High Octane Blending Component (HOBC) is expected to rise by Rs5.60 per litre and Light Diesel Oil (LDO) Rs3.90 per litre. The Kerosene oil price is expected to increase by Rs4.99 per litre.

The Oil and Gas Regulatory Authority (Ogra) has sent the summary to the Ministry of Petroleum and Natural Resources suggesting not to increase the POL prices. The regulator has asked the government to reduce the petroleum levy to maintain the POL prices at the existing level.

And in case the government refuses to reduce the petroleum levy, then the whopping raise in POL prices would trigger a new wave of financial misery for the masses. The finance minister would on Wednesday get approval from the prime minister on either raising or reducing the petroleum levy on the POL prices.

POL prices may rise by up to Rs5.60 per litre - thenews.com.pk

 

[Argus Panoptes]

This is only one part of the IMF prescription to remove energy subsidies. Other steps will follow.

 

[Elmo]

Now if only our pay rises by the same percentage

 

[Backbencher]

Allow Indian bikes like Hero splendor + or passion pro and I bet u will never again worry about hike in petrol prices

 

[Pulsar]

This is only one part of the IMF prescription to remove energy subsidies. Other steps will follow.

Spot on! That's the price one has to pay for borrowing from the IMF. Now the next bombshell is going to be an increase in taxes, followed by slashing of subsidies! However, the rich landlord/feudal class will naturally be spared. People like Hina Rabbani and thousands of her ilk will watch with disdain the ordinary folk coughing up more taxes while they have the last laugh!

 

[Argus Panoptes]

Spot on! That's the price one has to pay for borrowing from the IMF. Now the next bombshell is going to be an increase in taxes, followed by slashing of subsidies! However, the rich landlord/feudal class will naturally be spared. People like Hina Rabbani and thousands of her ilk will watch with disdain the ordinary folk coughing up more taxes while they have the last laugh!

Most people in business will be able to adapt, but those of fixed salaries will find their buying power seriously eroded. The rich class wont be affected at all.

 

[Pulsar]

Allow Indian bikes like Hero splendor + or passion pro and I bet u will never again worry about hike in petrol prices

Fill it, shut it, forget it!! But remember, this hike will hit the industry running on diesel as well as transportation that will increase the cost of vegetables and other commodities resulting in further inflation and misery for the common folk who don't posses bikes.

Needless to say, it will have no affect on the moneybags who have millions stashed away in Swiss banks!

Just like India, eh?

 

[arushbhai]

We are suffering what PPP had done in the last 5 years. They took massive loans and we have no idea where the money went.

 

[Black Eagle 90]

POL prices may rise by up to Rs5.60 per litre


The 180 million people of Pakistan are likely to get exposed to a mammoth increase in the prices of petroleum products that would rise between Rs2.73 and Rs5.60 per litre from August 1.

Analysts say this will fuel inflation in the country as the prices of almost all items will surge on account of the cost of transportation as the diesel price may also go up by Rs3.80 per litre. The increase in petrol price is expected to be Rs2.73 per litre. It will also adversely impact the poor masses as transport which are unable to get CNG because of gas shortage in the country will charge more.

The price of High Octane Blending Component (HOBC) is expected to rise by Rs5.60 per litre and Light Diesel Oil (LDO) Rs3.90 per litre. The Kerosene oil price is expected to increase by Rs4.99 per litre.

The Oil and Gas Regulatory Authority (Ogra) has sent the summary to the Ministry of Petroleum and Natural Resources suggesting not to increase the POL prices. The regulator has asked the government to reduce the petroleum levy to maintain the POL prices at the existing level.

And in case the government refuses to reduce the petroleum levy, then the whopping raise in POL prices would trigger a new wave of financial misery for the masses. The finance minister would on Wednesday get approval from the prime minister on either raising or reducing the petroleum levy on the POL prices.

POL prices may rise by up to Rs5.60 per litre - thenews.com.pk

I think they should rather bring the prices of Fuel with the range of Rs.70-83 if they are looking to completely take out CNG from the System. More over we can also work on Oil and gas pipelines from Any country which we would like but exploration in Pakistan must be continued not my foreign companies but by local ones..

 

[Jazzbot]

Patrol and Electricity prices are going up rapidly, Pakistan Rupee's value going down rapidly.. Wonder what practical salary we are left with?? We're doomed..!!

We are suffering what PPP had done in the last 5 years. They took massive loans and we have no idea where the money went.

That's called Jamhoooriyat ka husan.. Mulk rahe na rahe BC, jamhoooriyat chani chaiye aur hakooomat ko 5 saal pooray krne chaiye.. This was bound to happen considering the friendly opposition was provided to a goon like zardari.

 

[Jzaib]

chalo haar noora apna agala electricity aur petrol ka bill deek k nara lagye ..deekho deekho kon aya sher aya sher aya

 

[BeyondHeretic]

Pakistan should embrace Iranian petrol like india has , or else only the baloch petrol smugglers will get richer.

 

[Ayush]

@Jazzbot what is the current petrol price,in pakistani rupee..

 

[BeyondHeretic]

Other than that the only option left is to buy iran's CNG at twice the price.

 

[Jazzbot]

@Jazzbot what is the current petrol price,in pakistani rupee..

it is about 105 PK Rupees per liter after recent increase in petrol price..

New Govt's progress regarding petrol prices so far:

May 31, 2013 - Petrol prices increased by 2.18 Rs / liter
Jun 30, 2013 - Petrol prices increased by 3.66 Rs / liter
Aug 01, 2013 - Petrol prices increased by 2.73 Rs / liter