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Increase in petroleum prices.

Publication: Economic Review
Publication Date: 01-MAY-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
An almost consistent rise in world oil prices in the last few months has, it seems, finally forced the government to pass its impact to the domestic consumers. The Oil and Gas Regulatory Authority (OGRA), the new designated body to control the oil prices, could not wait any longer to avoid of...

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...the inevitable and announced new prices petroleum products on 30th April which were to be effective from 1st May, 2006 for the next fortnight. Kerosene oil witnessed the highest increase of 7.2 percent or Rs.2.11 per liter in its ex-depot rate, followed by light diesel oil whose price surged by 5.1 percent or Rs.1.6 per litre.

The ex-depot price of motor spirit, commonly known as petrol, went up by 2.5 percent or Rs.1.41 per litre while the rate of High Octane Blending Component (HOBC) was raised by...

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