Diesel price up Rs 3.50, petrol price down Rs 5


#1

The government on Monday reduced petrol prices by Rs 5 per litre and revised diesel and kerosene prices upward by Rs 3.50 a litre. A formal notification of the new oil prices was issued by Oil and Gas Regulatory Authority (Ogra) late Monday night. The changed prices will be effective from today (September 16).


#2

Pathetic reduction but I welcome it nonetheless. I believe they should have reduced at least Rs 10-15/liter.


#3

huh? reduction? decrease price of one thing while increasing the price of another...net result: no difference!!


#4

Stupid really. High pcices of bascic essential comodities depend upon the price of diesel. They should not have increased that. Anyways the price of oil in the international market has decreased a lot. Govt. should reduct some more. At least not keep increasing diesel prices.


#5

Our Governments only follow rapidly when the prices increase but when decrease our govt is very hesitant to follow. Now that the electricity prices have also increased, i Dont think that they will ever decrease the prices of electricity even we have surplus electricity.


#6

lol whereas in internaltion market rate is 91$ now :( dumb govt.

source: http://www.opec.org/home/basket.aspx


#7

crude has touched another low

it is being traded on 88$

the govt seems determined to gap out its deficit through higher fuel prices alone, without knowing its detrimental effects on economy in due to ever higher inflation.

Even after the increase, the government continues to provide a subsidy of Rs 10.93 per litre and Rs 9.49 per litre on kerosene, and LDO respectively.

Harder times have not yet arrived!


#8

[quote=", post:, topic:"]

huh? reduction? decrease price of one thing while increasing the price of another…net result: no difference!!
[/quote]

I have no idea why I didn’t think of that before! feel stupid


#9

by reducing the price of petrol by Rs5 government suffered a loss of Rs75Million per month while by increasing diesel price by Rs3.5 it gained Rs 4 to 4.5 Billion per month (May these policy makers rot in hell)

http://www.dawn.com/2008/09/16/top2.htm


#10

[quote=", post:, topic:"]

by reducing the price of petrol by Rs5 government suffered a loss of Rs75Million per month while by increasing diesel price by Rs3.5 it gained Rs 4 to 4.5 Billion per month (May these policy makers rot in hell)

http://www.dawn.com/2008/09/16/top2.htm

[/quote]

The factual position is as under:

Govt. will suffer a reduction of Rs. 700 million per month due to 5 Rs. decrease in petrol.

3.5 Rs increase in Diesel will decreased the Govt. subsidy by 2.5 billion per month.

Despite the increases Govt. is still providing a subsidy of 9 billion per month. Just pray for further decrease in international oil prices because only when the subsidy becomes zero, the govt. will think about reducing the prices.


#11

I could have swore I read a report in Dawn that the government is actually making a net profit from the tax on petroleum products rather than losing through subsidy...I will try to dig that report out if I get the time...


#12

i saw today in DAWN newspaper (i rarely read them :D) that government is pocketing 33% on fuel prices


#13

Just 5 RS :(

sure i can buy whole Pakistan inn'it lol


#14

[quote=", post:, topic:"]

Just 5 RS :(

sure i can buy whole Pakistan inn’it lol

[/quote]

something is better than nothing

and you don’t just fill 1 litre if you fill 20 litre you save 100 rupees

not much if you see how much the prices have increased in the past few months but still something positive