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Petroleum product prices being raised - Lahore_Real_Estate - 04-28-2010 12:53 PM
By Kalbe Ali
Wednesday, 28 Apr, 2010
ISLAMABAD: Prices of petroleum products may be raised by three to eight per cent in May because of increasing oil prices in international markets, according to sources in the Ministry of Petroleum and Natural Resources.
They said the price of petrol might go up to Rs75.40 per litre next month. Diesel will cost much more than petrol and the price of motor and generator fuel may be raised by more than Rs5 to Rs78.50 per litre.
Under the new oil pricing formula the impact of price increase in the international markets is passed on to consumers.
The government gets petroleum levy (PL) of Rs10 per litre on petrol, Rs6 on diesel, Rs14 on HOBC, Rs6 on kerosene and Rs3 on Light Speed Diesel.
The sources said that prices of oil in international markets were rising in the wake of an increase in demand for power in summer.
The prices of petroleum products for the month of May would be notified by the Oil and Gas Regulatory Authority on April 30.