The government on Thursday increased prices of high octane blending component (HOBC) and diesel while it maintained the prices of other products despite a 4.6 percent decline in oil prices in the global market. The government increased price of diesel by Rs 0.54 per liter and that of HOBC Rs 2.13 per liter effective Friday.
After the recent increase, the price of high speed diesel has moved up from Rs 92.11 per liter to Rs 92.65 per liter while HOBC from Rs 107.80 per liter to Rs 109.93 per liter. The prices of other products will remain unchanged ie petrol at Rs 84.80 per liter, kerosene oil at Rs 86.822 per liter and light diesel oil (LDO) at Rs 83.52 per liter.
The government has also increased margins of Oil Marketing Companies (OMCs) and dealers by 16 paisa per liter. The rate of Petroleum Levy (PL) on petrol has been pushed up by Rs 1.08 per liter, kerosene oil Rs 2.24 per liter and LDO by Rs 2.33 per liter.
Addressing a press conference, Ogra spokesman Jawad Naseem said the government has increased oil prices six days before Eid to end uncertainty in the market due to media reports regarding decline in oil prices. He said OMCs as well as dealers had stopped lifting POL products after reports that the government might be slashing oil prices following decline in global oil prices.
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