WatanDost
Chief Minister (5k+ posts)
[h=1]Petrol price crosses Rs90 mark[/h]January 01, 2012
ISLAMABAD Beating all previous records in history of the country, the cash starved coalition government on New Year gifted the masses with a massive raise in the prices of POL products.
With this increase in the per litre price of POL (petroleum oil and lubricants) products of up to Rs5.13, the prices of petrol, and Hi Octane are now the highest-ever. Though the government already rubbed enough salt to the public injuries through the gigantic surge in the prices of gas and imposition of gas infrastructure cess (GIC), it drew the dagger further deep into the peoples belly by jacking up the already sky rocketing prices of POL products.
After this decision of raise in the price of per litre of POL products, a hike worth of Rs5.13/liter in hi-octane blended component (HOBC) and Rs1.65 in petrol will further add woes and worries for common man who remain unable to meet both ends. However, prices of high speed diesel (HSD), light diesel oil (LDO) and kerosene will remain the same and will be maintained, as no change in the prices has been decided till this effect.
According to Ogras notification, a litre petrol will be now available in open market at a record level of Rs89.95, hi-octane at Rs111.91, while no change has been made in per litre price of HSD, LDO and kerosene oil so will be available at previous prices per litre i.e. HSD at Rs98.82, LDO at Rs86.78 and kerosene oil at Rs89.42.
It is important to note that in accordance to the declining trend in international market, prices of petrol, HSD, kerosene and LDO were likely to witness a decline during this month to ease the hard-pressed nation that is already facing double-digit inflation. Approximately, a decrease of Rs2.50 in petrol, 10 Paisa in HSD, and Rs1.15 in kerosene and 45Paisa in per litre price of LDO was expected. However, due to Rs2 depreciation in the value of rupee along with 66Paisa increase in Inland Freight Equalisation Margin (IFEM), a raise worth of Rs1.65 in the price of petrol has been done. Further, finance ministry has also given go ahead to further hike in POL prices.
On Friday, Ogra notified the increase in gas price by 13.98 to 207.10 percent for all categories of gas consumers, including households, to be effective from tomorrow (January 1, 2012).
However, the government has succumbed to the pressure exerted by the masses and has slashed the 40 percent development surcharge on CNG within one hour of the notification issued by the regulator.
This news was published in print paper.To access the complete paper of this day. Click here
ISLAMABAD Beating all previous records in history of the country, the cash starved coalition government on New Year gifted the masses with a massive raise in the prices of POL products.
With this increase in the per litre price of POL (petroleum oil and lubricants) products of up to Rs5.13, the prices of petrol, and Hi Octane are now the highest-ever. Though the government already rubbed enough salt to the public injuries through the gigantic surge in the prices of gas and imposition of gas infrastructure cess (GIC), it drew the dagger further deep into the peoples belly by jacking up the already sky rocketing prices of POL products.
After this decision of raise in the price of per litre of POL products, a hike worth of Rs5.13/liter in hi-octane blended component (HOBC) and Rs1.65 in petrol will further add woes and worries for common man who remain unable to meet both ends. However, prices of high speed diesel (HSD), light diesel oil (LDO) and kerosene will remain the same and will be maintained, as no change in the prices has been decided till this effect.
According to Ogras notification, a litre petrol will be now available in open market at a record level of Rs89.95, hi-octane at Rs111.91, while no change has been made in per litre price of HSD, LDO and kerosene oil so will be available at previous prices per litre i.e. HSD at Rs98.82, LDO at Rs86.78 and kerosene oil at Rs89.42.
It is important to note that in accordance to the declining trend in international market, prices of petrol, HSD, kerosene and LDO were likely to witness a decline during this month to ease the hard-pressed nation that is already facing double-digit inflation. Approximately, a decrease of Rs2.50 in petrol, 10 Paisa in HSD, and Rs1.15 in kerosene and 45Paisa in per litre price of LDO was expected. However, due to Rs2 depreciation in the value of rupee along with 66Paisa increase in Inland Freight Equalisation Margin (IFEM), a raise worth of Rs1.65 in the price of petrol has been done. Further, finance ministry has also given go ahead to further hike in POL prices.
On Friday, Ogra notified the increase in gas price by 13.98 to 207.10 percent for all categories of gas consumers, including households, to be effective from tomorrow (January 1, 2012).
However, the government has succumbed to the pressure exerted by the masses and has slashed the 40 percent development surcharge on CNG within one hour of the notification issued by the regulator.
This news was published in print paper.To access the complete paper of this day. Click here
