Govt jacks up poor man's fuel by 6pc

ISLAMABAD The Government on Friday jacked up the commoners fuels namely Kerosene and High Speed Diesel (HSD) oil by six percent and about five percent respectively arguing that the prices were adjusted to the hike in international rates. Oil and Gas Regulatory Authority (OGRA) has issued a notification for increase in prices of Motor Spirit, commonly known as supreme petroleum, HOBC, Kerosene, Light Diesel Oil (LDO) and E-10 while the state-owned Pakistan State Oil has notified increase in High Speed Diesel (HSD). As per the OGRA notification, Kerosene that is widely considered as poor mans fuel has soared more than all other petroleum products. After the increase that would be effective from May 1, 2010 till end of the month, the price of Kerosene has gone up from Rs 64.81 to Rs 68.89 per litre with an increase of Rs 4.08 or six percent. Similarly, LDO also increased by six percent from Rs 62.2 to Rs 65.76 indicating an increase of Rs 3.56 percent per litre. Increase in the HSD was second highest, as it soared from Rs 73.39 to Rs 76.8 per litre rising by Rs 3.41 or about five percent. Likewise the Supreme Petroleum edged up by Rs 1.94 per litre from Rs 73.14 to Rs 75.08 indicating increase of three percent. Similarly, HOBC went up from Rs 87.56 to Rs 89.19 per litre showing an increase of Rs 1.63 or 2 percent. According to the OGRA, the international prices of petroleum products especially Kerosene and HSD had soared by even eight percent but nominal improvement in Pak rupees strength against US dollar during the outgoing month enabled the Government to pass on only six percent price increase. Notwithstanding, the increase was the result of the monthly review of the prices of petroleum products linked to the international market, the consumers already scrambling with shortages and outages of energy items had yet another blow. Political analysts apprehended that the timing of latest increase could trigger public protests already erupting in different parts of the country due to electricity load shedding and weekly closures of CNG stations.

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