ISLAMABAD - The government has dropped 'fuel bomb' on the poverty-stricken masses by jacking up the prices of petroleum products (POL) by up to Rs3.04 per litre and CNG prices by up to Rs2.55/kg, which would be effective across the country from today.The inflation-hit masses are already bearing heavy brunt of long hours of power outages and high ceiling power tariff, and now this further increase in already high POL and CNG prices would push them further down the economic line.By directly hitting the transportation sector, this fuel prices hike would fire up a general prices increase while there would be a particular surge in the prices of daily use items and edibles in Ramazan, which is expected to start by July 10 or 11 in Pakistan, when the consumption of food and transport activity increases sharply.By devastating their budget, draining their purchasing power, this hike is bound to leave the masses in the lurch before and during Ramazan, and mar their Eid as many of them would not be in a position to spend much on this occasion of celebration.Fluctuations in global oil prices, increase in the rate of general sales tax (GST) and depreciation of rupee against the US dollar, have been given as the reasons by the Oil and Gas Regulatory Authority (Ogra), which had recommended the prices increase to petroleum ministry after consulting oil marketing companies (OMCs).The regulator in its June 28 summary had recommended the raise under a monthly price review mechanism and the ministry gave its approval on Sunday, ahead of holy month of Ramazan, which on its own is traditionally a month of high inflation as governmental price control authorities remain highly ineffective.Sources, citing petroleum ministry's notification on monthly POL prices said that during the month of July new ex-depot price of petrol is to stand at Rs101.77/litre with a raise of Rs2/litre, of high speed diesel (HSD) at Rs106.76/litre with a hike of Rs2.16, light diesel oil (LDO) at Rs92.17/litre with a raise of Rs3.04, high octane blended component (HOBC) at Rs126.77 with a raise of Rs2.36, while the price of kerosene oil has been fixed at Rs96.29/litre after a raise of Rs2.50.Official sources citing CNG price hike notification said that since the GST rate imposed on the sale of CNG had gone up by 26 percent from the previous 17 percent following approval of the finance bill 2013-14 so up to Rs2.55/kg hike has been made by the incumbent government.An official at petroleum ministry said that though the Ogra had asked the petroleum and finance ministries to adjust the rate of Petroleum Levy (PL) on petroleum products instead of passing on the upsurge to the people, yet the PML-N government did not do so.He also said Ogra in its summary had included only one per cent raise in GST (from 16 to 17 percent) while determining oil prices, but the oil marketing companies had started charging 19 percent GST from non-registered petroleum dealers over the sale of POL products, which would lead to the exchange of harsh words and brawls between the consumers and workers of non-registered filling stations.Due to heavy hike in the ratio of GST and further initiation of additional collection of GST from the non-registered petroleum dealers by the OMCs, the per litre price of petrol on non-registered petroleum dealers would go further up by Rs2.58, HOBC by Rs3.21/litre, kerosene oil by Rs2.40/litre while Rs2.70/litre in the price of diesel and Rs2.31 in the per litre price of light diesel oil.The Ogra has determined per kilogram price of CNG for Region-I (Khyber Pukhtunkhwa, Balochistan, Potohar region) at Rs75.48/kg with a raise of Rs2.55/kg. And with a hike of Rs1.85/kg, the new piece of CNG in Region-II (Sindh & Punjab) is Rs66.75/kg.Interestingly, 3.7 million vehicles are running with CNG fuel. The once robust entire CNG sector is now bearing high taxes due to worsening energy crisis in the country that had ballooned out of control. Frequent complaints of gas shortages, gas tariff hike coupled with suspension of gas supply to the CNG filling stations has become routine feature of country's daily life which had so far added miseries to the over burdened common man.