KARACHI, May 25: A leading oil refiner has increased lube base oil prices by Rs3.50 per litre which would make lubricating oil dearer by Rs5 per litre.

All-Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain said that it was the second increase by Attock/NRL management in less than one month while the fifth in four months.

Demanding introduction of a price control mechanism on lube base oil manufacturers, he said Attock Refinery, the major shareholder of lube base oil manufacturers, National Refinery, had increased the price by Rs42.50 per litre in the last 12 months.

The lubricating oil manufacturers are constantly being ignored by the lube base oil manufacturer, and they are raising prices without consulting the stakeholders on vague pretexts, he said, urging the government to intervene and get the refiner’s decision reversed.

In a statement, he said that no government functionary was taking notice of arbitrary increase in lube oil prices while motor vehicle owners have been forced to buy expensive motor oils.

Zahid stated that oil refinery is increasing prices frequently on various reasons.

If this trend continues, lubricant manufacturers would shut down their business owing to rising price of lube base oil and availability of smuggled and spurious oil in the market.