The price of petroleum is likely to go up by Rs2.18 per litre in June amid the surge in global oil prices.
However, around the same time, high speed diesel (HSD) prices are expected to fall — allowing some relief to trickle in for consumers.
On Thursday, the Oil and Gas Regulatory Authority (Ogra) moved a summary to the ministries of finance and petroleum, seeking their approval to implement the new prices from June 1 onwards adjustments in the petroleum levy (PL).
In the summary, Ogra has recommended that the price of petrol be increased by Rs2.18 per litre, and the price of high-octane blended component (HOBC) be increased by Rs0.84 per litre. The prices of HSD, light diesel oil (LDO) and kerosene, meanwhile, are to be slashed by Rs1.46, Rs0.07 and Rs0.38 per litre, respectively, according to the summary, sources told The Express Tribune.
If the finance and petroleum ministries approve Ogra’s summary, the price of petrol will stand at Rs99.77 per litre, HOBC at Rs124.41, HSD at Rs104.6 and LDO at Rs89.06 per litre in the month of June.
Published in The Express Tribune, May 31st, 2013.