No cut in petrol price

Updated 01 Oct 2020

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POL consumption declined by 21pc to 19.56 million tonnes during 2018-19.
POL consumption declined by 21pc to 19.56 million tonnes during 2018-19.

ISLAMABAD: Despite a slight price decrease in the international oil markets, the government on Wednesday decided to maintain the rates of petroleum products barring high speed diesel (HSD) for the first fortnight of October.

The HSD price has been decreased by Rs2.40 to Rs104.06 per litre for next 15 days, the Ministry of Finance announced on late Wedn­esday evening.

However, the Prime Minister’s Office earlier in the afternoon said that Prime Minister Imran Khan had decided that there would be on increase in the prices of petrol during next 15 days.

Used by the large traffic vehicles, generators and many machines, HSD has the largest consumption share as a fuel in the country.

HSD consumption is comparatively low in the month of October as there is no significant demand either from the agriculture sector or for running generators.

At the same time, the government has decided not to change the prices of other petroleum fuels for the second consecutive month.

Per litre price of petrol will continue to be Rs103.97, followed by kerosene oil Rs65.29 and light diesel oil (LDO) Rs62.86. LDO is used in certain kinds of vehicle engines and mills mainly used in rural areas to operate tube wells and flour grinding etc.

Meanwhile, sources in the Petroleum Division said the Oil and Gas Regulatory Authority (Ogra) had determined reduction in the prices of petroleum fuel for the first 15 days of October.

Sources added that the oil prices had witnessed a decline in international markets in the month of September. Crude oil witnessed a drop of 0.36 per cent in the Opec basket to close the month at $41.46 per barrel. At the same time the rates of Arab light crude oil declined by 4.53pc at the end of September to $40.06 a barrel compared to $46.45 at the start of the month.

The official added that the differential by not passing on the reduction at the international markets will balance the cuts made in taxes and levies by the government for the month of September when the oil prices were kept stable by the prime minister in the wake of massive loss suffered residents of many areas due to floods.

Ogra on Wednesday has increased the price of liquefied petroleum gas (LPG) by Rs3 per kilogramme to Rs113 for the month of October. The Ogra notification said that the price of an 11.8kg domestic cylinder has been increased by Rs34 while the rate of commercial cylinder has been hiked by Rs130.

Ghee, toothpaste prices up

Meanwhile, Utility Stores announced a revision in prices — largely upwards — for items in edible and non-edible categories.

The per kg price of ghee saw a hike of from Rs4 to Rs33 for different brands. Similarly, cooking oil prices were raised by Rs2 to Rs20. Prices of toothbrushes have been increased in the range of Rs14-35 a piece while toothpaste rates jumped Rs5-20. Cashewnuts prices saw an increase of Rs24-47 per 200 grams, red chili powder has been increased by Rs73 per 400 grams.

Prices of shaving creams have been increased by Rs20. Mosquito repellents, chocolates, jams, vinegars, cleaners, soaps etc, also saw an increase.

Published in Dawn, October 1st, 2020