Just in:  

You are here: Home»Top Stories»Petrol price likely to go up by Rs 1.73 per litre

Petrol price likely to go up by Rs 1.73 per litre

The government is expected to increase the price of petrol by Rs 1.73 per litre and CNG by Rs 1.55 per kg, while the Oil and Gas Regulatory Authority (Ogra) has suggested the government to keep petrol price at current level. According to sources in the Oil and Gas Regulatory Authority, from September 24 (Monday) petrol price is expected to increase by Rs 1.73 per litre and if the government enhanced petrol price CNG price will automatically increase because of the parity formula between petrol and CNG prices.

The regulatory authority has also recommended to the government to reduce prices of other petroleum products by up to Rs 6.06 per litre, keeping the current international trend of crude oil prices in view, which from the last couple of days has witnessed a slight decrease.

It has further suggested the government to reduce price of High Octane Blending Component (HOBC), High Speed Diesel by Re 0.47 per litre, Light Diesel Oil by Rs 2.10 per litre and kerosene oil by Rs 3.05 per litre. The government is collecting petroleum levy on petrol products at the rate of Rs 8.86 per litre, Rs 11.84 per litre on HOBC, Rs 4.2 per litre on HSD and Rs 5.15 per litre on kerosene oil.

According to Petroleum Ministry official as a result of POL price increase, the government's tax collection on petroleum products also increase while general sales tax is being collected from the end consumers. The government on September 17 raised the petrol price by Rs 6.82 per litre and CNG price by Rs 6.24 per kg. The Authority has argued that if the government did not increase petrol and CNG prices it will help general masses.

Owing to increase in the petrol and CNG prices, the operators of Public Service Vehicles have increased the transport fares by up to Rs 3 stop-to-stop. Currently, different POL products are available on following rates: HOBC at Rs 137.96 per litre, petrol at Rs 106.72 per litre, High Speed Diesel at Rs 113.77 per litre, Light Speed Diesel at Rs 99.27 per litter and kerosene oil at Rs 104.68 per litter.

Copyright Business Recorder, 2012


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln