Except diesel’s, OGRA keeps POL prices unchanged

ISLAMABAD - The government while setting aside Ogra’s recommendations to relief the consumers by reducing the prices of POL products has decided to maintain the prices of the products except the price of light Diesel Oil (LDO) for the month of May.Oil and Gas Regulatory Authority (Ogra) in its recommendation had earlier asked the cash-starved government to decrease the prices of petroleum oil and lubricant (POL) products up to Rs4.89/litre as the average price of crude oil during the month of April witnessed a decline in the international market by $3 and have decreased at $121 per barrel. The regulator in its summary had requested the government to trim down the price of Petrol by Re1, High Octane Blended Component (HOBC) Rs4.89, light diesel oil (LDO) Rs1.64, high speed diesel oil Rs1.31, and Rs2.13 per litre in the price of Kerosene oil for the month of May.However, the government has decreased the price of LDO by Rs1.31 per litre this time while the prices of other POL products have been maintained by increasing the ratio of Petroleum Levy (PL). Finance Ministry has jacked up the ratio of imposed PL on POL products by Rs4.10/litre from 1st May. Resultantly, the price of per litre of motor spirit (petrol) is maintained by Rs103.36, high speed diesel (HSD) Rs 107, LDO Rs97.43, high octane blended component (HOBC) Rs135.81, kerosene oil Rs99.95 per litre have been maintained at the same tune.Sources have informed that by increasing the PL, cash-starved government will totally earn some Rs1.3billion instead of giving relief to the consumers already bearing the brunt of sky-high prices of POL products in the country. They said if the government did not increase the PL this time then the price of Petrol could witness a decline by Rs1, High Octane Blended Component (HOBC) Rs4.89, light diesel oil (LDO) Rs1.64, high speed diesel oil Rs1.31, and Rs2.13 per litre in the price of Kerosene oil. They have told that finance ministry has increased the PL from Rs8/liter to Rs8.86/liter, HOBC from Rs7.62 to Rs11.84 per liter, kerosene oil from Rs3.32/liter to Rs5.15/liter, HSD from Rs3.07/liter to Rs4.20/liter while PL on LDO has also been increased from Rs2.72/liter to Rs3 per liter. They were of the opinion that as the parliament earlier fixed Rs3 as the PL on LDO in finance bill so the beleaguered government has to decrease the price of LDO by Rs1.31 per lier for the current month (May).Moreover, in accordance with the sources, Liquefied Petroleum Gas (LPG) marketing companies are likely to decrease LPG prices by Rs 15 per kg and price of domestic cylinder to Rs 175 while price of commercial cylinder to Rs 700. This decrease has been decided following the reduction of LPG in the international market where LPG prices have been decreased by $ 132 and prices decreased from $993 to $861. After this decrease LPG price in local market would be 14200 per metric ton and this would be implemented from May 03.LPG distribution Association told that after this recent cut price of LPG in Karachi, Lahore, Gujranwala, Faisalabad, Gujrat, Sakhar, Haiderabad, Rahimyar khan, Sadiq abad would be Rs 90 per kg and domestic cylinder would be available at Rs 1030. LPG prices in Rawalpindi, Islamabad, Peshawar, and Jehlum would be Rs 100 per kg and domestic cylinder would be available at Rs 1150. LPG prices in Murree would be Rs 110 per kg and domestic cylinder would be at Rs 1270.Dera Ismail khan, Kohat LPG price would be 105 and domestic cylinder would be Rs 1210 and in Multan, Dera Ghazi Khan, Bahawalpur LPG price per kg would be Rs 95 and domestic cylinder would be available at Rs 1090.LPG distribution association further said that in Gilgit Baltistan, Balakot, Muzaffarabad, Azad Kashmir, Mansehra, Nathya Gali and Swat LPG price per kilogram would be Rs 115 and domestic cylinder would be at Rs 1330.

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