The fortnightly meeting of the pricing subcommittee of Oil Companies Advisory Committee (OCAC), was held here on Monday to review the various prices of petroleum products. The committee decided that the prices of POL products would remain unchanged for the next fortnight. According to OCAC announcement, during the period May 1 to 15, the prices of petroleum products showed a declining trend in the international market. However, these are still higher than the fortnight of March 1 to 15 when the government had decided to freeze the prices at current levels.
The oil marketing companies (OMCs), during the current fortnight, once again will continue to subsidise the price of diesel by Rs 3.59 per litre, kerosene by Rs 5.44 and light diesel oil (LDO) by Rs 3.25 per litre and will be claiming the same from the government as price differential, the announcement said.
The oil industry price differential against the government for the current fortnight is estimated at about Rs 1 billion.
Total oil industry claim now stands at about Rs 14.5 billion. The ex-depot sale price at 29 designated locations, effective from May 17, would remain unchanged as motor spirit is Rs 45.53 per litre, HOBC is Rs 50.52 per litre, kerosene oil Rs 27.98 per litre and light diesel oil Rs 26.39 per litre.
Pakistan State Oil (PSO) spokesman said that the price of high speed diesel remains unchanged for next 15 days at Rs 29.06 per litre.