POL prices likely to go up from August 01
Wednesday, July 25th, 2012 2:06:47 by Fayyaz Yaseen
Islamabad: (Wednesday, July 25, 2012) Considering the increasing crude oil prices in the Asian market, POL prices are likely to go up in Pakistan as well. According to a source at the Ministry of petroleum and Natural Resources,
increase in prices have become a must as the price of oil in international markets has gone up by as much as $ 4.5 per barrel.
As per initial details, the POL prices, from August 1st onwards, will go up by Rs 7 per litre.
According to the sources, the Gulf market has been observing consistent price increase in the price of crude oil and petroleum products during last one week and from $96, it has now gone up to $100.5.
Building on these grounds, Ogra has completed its initial work on price revision under which the price of petrol will be increased by as much as Rs 5.90, HOBC will witness an increase of Rs 7 per litre, Kerosene oil Rs 4.50 per
litre, HSD Rs 4.78 per litre and LDO Rs 4.65 litre.
The prices will be finalized on July 27 after deciding on the inland equalization charges on the transportation of POL products across the country.
Moreover, an increase in petroleum prices will also lead towards increase in the CNG prices. Commenting on this relationship, sources said, “As diesel and CNG are heavily used in the transportation of goods and vegetables across
the country and within the districts, the increase will result in further inflation, multiplying the economic miseries to a large extent.”
Short URL: https://www.newspakistan.pk/?p=29568
Posted by Fayyaz Yaseen
on Jul 25 2012. Filed under Business, Pakistan.
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