The government is likely to drop another petrol bomb on the masses on Feb 16 (Thursday) after it already jacked up the prices by Rs35 per litre on Jan 29, two days ahead of schedule
The masses should get ready to bear a heavy jolt as the prices of petroleum products will be increased by up to 12
5 per cent for the second half of ongoing Feb 2023
According to sources, the ex-depot per litre price of petrol is calculated to go up by Rs32
07 (12 per cent), high speed diesel (HSD) might witness a rise of Rs32
84 per litre (12
5 per cent), kerosene oil is estimated to be hiked by Rs28
05 per litre and light diesel oil (LDO) might see a hike of Rs9
90 per litre
“Likely, the new prices are based on current government taxes and estimated PSO incidentals,” the sources said
The estimated dollar/rupee adjustment applies Rs15 per litre for both products (petrol and HSD) while it is assumed that the petroleum levy (PL) on HSD will rise to Rs50 per litre, they added
At present, petrol is available at Rs249
80 per litre, HSD at Rs295 per litre, kerosene oil at Rs189
83 per litre and LDO Rs187 per litre
However, the sources said that if the estimated said hike is approved, the new price of petrol will stand at Rs281
87 per litre, HSD Rs295
64 per litre, kerosene oil Rs217
88 per litre and LDO Rs196
90 per litre during the second half of Feb 2023
It is also learnt from the sources that ex-refinery price for the second half of February 2023 of petroleum products is calculated to go up by 21
4%
They said that ex-refinery price of petrol is calculated to go up by 21
4 per cent from Rs177
40 per litre to Rs 215 per litre, HSD price from Rs221
36 per litre to Rs240 per litre (up 8
8 per cent), kerosene oil from Rs182
13 per litre to Rs210
18 per litre (up 15
4 per cent) and ex-refinery price of LDO is also estimated to go up from Rs153
99 per litre to Rs163
89 per litre (up 6
4 per cent)
The already burdened common man will bear an additional heavy jolt in the form of colossal hike in the prices of petroleum products during the second half of February 2023 if the government approves the proposed hike for the future oil prices
The HSD is widely used in transport and agriculture sectors
Therefore, any increase in its price will be a blow to consumers in the form of rising inflation
Petrol is used by motorbikes and cars and is an alternative to compressed natural gas
Gas is not already available at CNG stations to feed transport due to its availability issue in the winter season
Kerosene oil is used in remote areas where liquefied petroleum gas is not available for cooking purpose
Pakistan Army is a key user of it in northern parts of Pakistan
| Date: | 16-Feb-2023 | Reference: | View Original Link |
|---|