POL products’ prices reduced

ISLAMABAD: The federal government on Saturday decided to partially pass on the benefits of lower international oil prices to consumers and announced up to Rs 5.25 per litre price reduction with effect from February 16.

In a fortnight review of petroleum products prices, the Finance Division has stated that the price of high speed diesel (HSD) will go down by Rs 4 per litre to 263.95 per litre from Rs 267.95 per litre. The price of petrol has also gone down to Rs 256.13 from Rs 257.13 per litre in previous half of February.

The federal government had decided to increase Inland Freight Equalization Margin (IFEM) on petrol by Rs 1.42 per litre from Rs 4.37 last half February to Rs 5.79 per litre as well as reduced ex refinery price from Rs 176.25 per litre to Rs 173.83 per litre.

POL products: Ex-depot prices may go up by Rs6.20/litre from 16th

The rate of light diesel oil (LDO) has also been revised downward by Rs 3.20 per litre from Rs 174.85 to Rs 171.65 per litre.

The price of kerosene oil (KERO) has also been lowered by Rs 5.25 per litre from Rs 161.06 to Rs 155.81 per litre.

The Oil and Gas Regulatory Authority (Ogra) reviewed and adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market.

The benchmark Brent prices decreased by $2 per barrel in last two weeks. The average prices of HSD decreased by around $3 per barrel in global oil market while that of petrol dropped by about 90 cents per barrel last fortnight.

The ex-refinery cost of kerosene and LDO also came down. Import premium on petrol fell by $1 $7.75 per barrel from $8.8 while it remained unchanged on diesel.

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