Pakistan State Oil may reduce prices of Petrol and CNG in line with its cargo and stocks assessment and readjustments in the petrol pricing formula. - File photo

ISLAMABAD: In line with reassessment of petrol stocks and deliberation of the pricing formula, Pakistan State Oil is expected to decrease the prices of Petrol and, by parity, Compressed Natural Gas.

The new prices will be implemented from September 10, 2012, onwards where the price of petrol would be reduced by Rs4.65 and CNG by Rs4.

On the other hand, prices of High-Speed Diesel and Light Diesel Oil are to be increased by Rs3.39 and Rs1.40 respectively. High Octane is to be higher by Rs3.27 while Kerosene will be hiked by Rs1.85.

Prices of petroleum products were raised significantly on September 1, 2012, where Petrol and CNG prices were increased by Rs8.18 and Rs7.11 respectively.

By implementing the said prices, the previous increases in both the fuels would be reduced by over 56 per cent each.

At the time of the previous price hike, Ogra had requested the government to provide relief to consumers by sharing half the burden, stating high energy taxes.

More From This Section

PM summons meeting after attack on Hamid Mir

A discussion of Saturday’s attack on Hamid Mir would be on the agenda for the high-level meeting scheduled for Sunday.

‘ECB annoyance made PCB give Rashid cold shoulder’

According to sources, the ECB was not happy with PCB's offer to Rashid who has been blunt in his support of Kaneria.

Slain ANP leader’s house attacked

Unknown gunmen attacked the house of the late Mian Mushtaq late last night and abducted three of his relatives.

Road accident kills 41 in Sukkur

At least 41 people were killed, several others injured in a bus-trailer collision on the National Highway near Sukkur.


Comments are closed.

Comments (2)

Ijaz
September 9, 2012 5:55 am
Double increase, half reduction what a saga
m.y.saleem
September 8, 2012 9:54 pm
nobody knows in pakistan ,how the prices are determined. the oil companies are minting billion of rupees. there are no professionals to counter check and dishonesty is prevailing in our country.if oil prices increase in international market,then how come that the profits of these companies are being doubled and trippled.what benefits are we getting from elected govt.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Poll
From The Newspaper
Tweets