Notification Issued for Changes in Petroleum Product Prices
Islamabad (Daily Qudrat) — Ogra has announced changes in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been reduced by Rs 3.63, while the price of diesel has been cut by 31 paisa per litre.
The new price of petrol has been fixed at Rs 390.23 and the price of high-speed diesel at Rs 396.96.
The new prices will take effect from 12 midnight tonight.
Meanwhile, according to the Power Division, measures were taken to limit the expected September fuel price adjustment from Rs 5 to 6 per unit down to Rs 2.56 per unit, as a result of which it has been claimed that electricity consumers have been saved from a possible additional burden of up to Rs 3.44 per unit.
According to the statement, there was a risk of an increase in the fuel price adjustment due to electricity generation from expensive furnace oil and high-speed diesel, and to reduce it, limited and targeted load management of 2 to 2.5 hours daily was carried out during September.
The Power Division says that by providing imported LNG for electricity generation at local gas rates, a burden of 83 paisa per unit on consumers was reduced. As a result, September’s fuel price adjustment is likely to remain only Rs 1.45 per unit higher than August, while the possible additional burden under this head is estimated at up to Rs 32.70 billion.
According to the statement, due to regional conflict, the price of crude oil in the global market exceeded $120 per barrel, whereas at the time of determining the base tariff of electricity, the price of crude oil was assumed to be about $70 per barrel.
