KARACHI, April 15: The Oil Companies Advisory Committee (OCAC) has curtailed the ex-depot fixed sales price of petrol by Rs2.69 per litre while oil marketing companies (OMCs) have also reduced the ex-depot price of diesel by Rs3.25 per litre from Rs 24.53 to Rs21.28.
The OCAC has also slashed the prices of all petroleum products by Rs1.95 to Rs 2.72 per litre. The new prices will be effective from April 16-30.
Oil marketing companies (OMCs) — Pakistan State Oil (PSO), which enjoys over 60 per cent market share and Shell Pakistan Limited (SPL), having 30 per cent market share, have cut the diesel price by 13.24 per cent to Rs 21.28 from Rs 24.53 per litre. Shell Pakistan at 7.00pm had, however, announced a reduction of 10 per cent in diesel prices to Rs21.97 from Rs24.53 but at 8.00pm it decided to further cut the prices to bring them at a par with the PSO’s diesel price.
The ex-depot price of petrol has been reduced to Rs30.58 from Rs33.27 per litre, showing a decline of 8.09 per cent, while the high octane blending component (HOBC) price has been decreased to Rs34.60 from Rs37.32 per litre.
The new rates of kerosene oil and light diesel oil (LDO) have been brought down to Rs19.02 and Rs16.69 per litre from Rs21.06 and Rs18.64 per litre respectively.
OCAC said that the petroleum prices in the Arab Gulf region continued their declining trend during the last fortnight. The average price of Naphta declined by $45.30 per ton or 18.2 per cent, while the average price of kerosene fell by $3.84 per barrel or 13.1 per cent.
In the last two fortnights, the decline in these two products is $123.25 per ton and $12.28 per barrel respectively. In comparison to the product prices, the average price of Arabian Light Crude during the first fortnight of April 2003 averaged $24.8 per barrel. The average exchange rate of the rupee vis-a- vis the US dollar fell marginally by Rs0.01 during the fortnight.
FUEL OIL: Pakistan State Oil (PSO) and Shell Pakistan Limited (SPL) have also cut the fuel oil prices by 11.06 and 10.68 per cent respectively. PSO’s new price for high sulphur fuel oil will be Rs11,454 as compared to Rs12,879 per ton. The company has made no change in light sulphur fuel oil (LSFO) at Rs15,093 per ton. The new price of SPL’s HSFO has been cut to Rs11,515 from Rs12,892.65 per ton.
Oil experts said that the constant decline in furnace oil prices should result in the reduction of power tariff.
In diesel prices, the Sindh government is now in a better position to urge the transporters to cut fares.
Product Existing Revised Difference %age
Rs/litre Rs/litre Rs/litre
MS 87 RON 33.27 30.58 2.69 8.09
HOBC 37.32 34.60 2.72 7.29
Kerosene oil 21.06 19.02 2.04 9.69
Light diesel oil18.64 16.69 1.95 10.46
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