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Government deregulates Petroleum Oil Product prices

Islamabad, July 15, 2012 (PPI-OT): Federal Government, in pursuance of ECC decision of October 15, 2010, has deregulated the ex-refinery/ex-depot prices of Motor Spirit, HOBC, LDO and Jet fuels (JP-1, JP-4 and JP-8) w.e.f June 01, 2011. Further, Petroleum Product Prices notification will be on fortnightly basis, pursuant to ECC decision of May 15, 2012.

HSD ex-depot price is already deregulated since June 2002. Per the ECC decision, refineries/Oil Marketing Companies (OMCs) will fix / announce ex-refinery / ex-depot prices of above mentioned POL products.

The Oil and Gas Regulatory Authority (OGRA) will, however, continue to compute /notify exrefinery prices of HSD and Kerosene including ex-depot prices of Kerosene Oil and E-10 Gasoline on monthly basis, on Federal Government given formula and Petroleum Levy.

The revised ex-depot prices of Kerosene Oil and E-10 Gasoline, effective July 16, 2012 will be as follows:-

Rs/Litre

Product Effective July Effective July Difference %age
01, 2012 16, 2012 Inc/(dec)
Kerosene 86.25 88.19 1.94 2.2%
E-10 Gasoline 81.99 83.40 1.41 1.7%

The maximum ex-depot prices for various POL products, computed by PSO, per Federal Government approved formula, effective July 16, 2012, are reproduced below for information.

Rs/Litre

Product Effective July Effective July Difference %age
01, 2012 16, 2012 Inc/(dec)
HSD 97.21 97.21 0.0%
MS 84.49 85.90 1.41 1.7%
HOBC 106.88 112.52 5.64 5.3%
LDO 83.71 85.33 1.62 1.9%

International POL prices have increased effective July 16, 2012, as tabulated below;

Product Unit Effective July Effective July Difference %age
01, 2012 16, 2012 Inc/(dec)
HSFO C and F $ / MT 619.90 622.94 3.05 0.5%
Kerosene Oil C and F $ / BBL 109.79 112.49 2.70 2.5%
Gas Oil/HSD C and F $ / BBL 108.81 111.61 2.80 2.6%
Gasoline 95 RON C and F $ / BBL 101.12 105.17 4.06 4.0%
Exchange Rate Rs/US$ 94.41 94.55 0.14 0.1%

OGRA had recommended to Federal Government to keep the prices of MS, HOBC, Kerosene and LDO unchanged by adjusting the increase in Petroleum Levy.

Detailed computations are available at OGRA’s website (www.ogra.org.pk).

For more information, contact:
Oil and Gas Regulatory Authority (OGRA)
Plot #54, Fazal-e-Haq Road, Near PIA Building,
Blue Area, Islamabad, Pakistan
Email: registrar@ogra.org.pk
Tel: +9251 922 1707

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