KARACHI, Aug 15: The Oil Companies Advisory Committee (OCAC) on Friday increased the prices of petrol and HOBC nine and five paisa at Rs31.61 and Rs35.82 per litre, respectively. The price will be effective from Aug 16, 2003.

According to the OCAC, the prices of kerosene and light diesel oil had been raised by 61 and 48 paisa to Rs20.15 and Rs16.70 per litre, respectively.

However, Shell Pakistan has increased the price of highspeed diesel to Rs20.54 from Rs20.04 per litre.

The OCAC noted that product prices in the Persian Gulf region continued to rise during the fortnight under review.

The average price of Naphtha increased by 3.54 per cent to $8.42 per ton, while the average price of kerosene increased sharply by 7.32 per cent to $2.06 per barrel, which is the second consequent sharp increase in the price of kerosene.

Besides, the average exchange rate of the rupee declined against the dollar by Rs0.08 during the fortnight.