The Ministry of Finance has approved an increase in petrol price by Rs 1.73 per litre, while price-cuts have been announced in other petroleum products from Monday under the weekly revision in POL prices, a private TV channel reported. The prices of Compressed Natural Gas (CNG) will also rise after the increase in petrol rate because of a set mechanism under which CNG price should be equal to 60 per cent of petrol price. CNG price in region-I, comprising Balochistan and Khyber-Pakhtunkhwa, will rise to Rs99.28 per kg from Rs97.69 and in region-II, covering Sindh and Punjab, the price will be Rs90.70 per kg from Rs89.25. However, the prices of other petroleum products including high-speed diesel (HSD) has been reduced for the upcoming week. The price of HSD has been slashed by 47 paisa per litre. In the previous week too, the diesel price dropped by Rs1.75 per litre following a decline in global oil prices. The price of kerosene oil has been cut down by Rs3.05 per litre. The price of high octane blending component (HOBC) has also been slashed by Rs6.06 per litre. The price of light diesel oil (LDO) decreased by Rs2.10 per litre. Following the price revisions, petrol from Monday will cost Rs108.45 per litre compared to Rs106.72 earlier, HOBC Rs131.9 per litre compared to Rs137.96, kerosene oil Rs101.63 per litre compared to Rs104.68, HSD Rs113.30 per litre compared to Rs113.77 and LDO Rs97.17 per litre compared to Rs99.27.

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