KARACHI, Aug 31: The Oil Companies Advisory Committee (OCAC) which met here on Sunday increased prices of various fuel products by 0.63 to 2.78 per cent.

According to an announcement, the ex-depot sale price of regular petrol (motor spirit) has been increased by 0.63 per cent to Rs31.81 from existing Rs31.61, showing a surge of 20 paisa.

Similarly, the prices of HOBC have been increased by 53 per cent or 19 paisa to Rs36.01 from existing Rs35.82 while the kerosene oil will be available at the rate of Rs20.71 per litre from Monday as against the previous rate of Rs20.15, showing an increase of 56 paisa or 2.78 per cent.

The Light Diesel Oil price has been fixed at Rs16.99 as against the existing Rs16.70, showing an increase of 0.29 per cent or 1.74 per cent.

Pakistan State Oil (PSO), meanwhile, announced that High Speed Diesel Oil price has been revised upwards to Rs21.32 per litre from the existing Rs20.54, showing an increase of 78 paisa or 3.81 percent.

The OCAC in its statement observed that the local fuel oil prices have been increased due to increase in the rates of oil prices in the Persian Gulf region.

“The average price of Nephtha increased by dollars 1.81 per ton or 0.73 per cent, while average price of kerosene again increased by dollars 1.07 per barrel or 3.54 per cent. This is the third consecutive increase in the price of kerosene, it added.

The OCAC observed that the exchange rate of rupee remained stable against dollar during the fortnight.

The revised prices will be effective from Sept 1, it added.—APP

Product Existing price Revised price Increase %age

Rs/litre Rs/litre Rs/litre

Motor Spirit 31.61 31.81 0.20 0.63

HOBC 35.82 36.01 0.19 0.53

Kerosene Oil 20.15 20.71 0.56 2.78

Light Diesel 16.70 16.99 0.29 1.74