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Thread: US-Iran standoff to send fuel prices through the roof

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    Default US-Iran standoff to send fuel prices through the roof

    US-Iran standoff to send fuel prices through the roof | Pakistan Today | Latest news, Breaking news, Pakistan News, World news, business, sport and multimedia


    US-Iran standoff to send fuel prices through the roof - QTM0VDYz8f7bmISVLSBzGAAAAAElFTkSuQmCC

    US-Iran standoff to send fuel prices through the roof - QTM0VDYz8f7bmISVLSBzGAAAAAElFTkSuQmCChttp://cache.pakistantoday.com.pk/2012/01/US-Iran1-480x238.jpg

    • Massive increase likely in POL prices from February
    • Petrol price likely to be increased by Rs 5.45 per litre

    ISLAMABAD - Consumers will be faced with a massive increase in the prices of petroleum products because of the brewing crisis between Iran and the United States on the Strait of Hormuz, as the Oil and Gas Regulatory Authority (OGRA) has estimated an increase of Rs 3 to Rs 6.45 per litre on different POL products for the month of February.
    An official source said an increasing trend in POL prices was witnessed during the last few days because of the intensification of statements between Iran and the US. He said usually POL prices started falling from January but this year, an increasing trend was witnessed because of the confrontation. He said the initial estimates of OGRA pointed out that the price of motor spirit (petrol) would have to be increased by Rs 5.45 per litre, High Octane Blended Component (HOBC) by Rs 6.45 per litre, High Speed Diesel (HSD) by Rs 3.13 per litre, Light Diesel Oil (LDO) by Rs 3.87 per litre and kerosene by Rs 2.98 per litre. OGRA would be making its final recommendations after a meeting to decide on the inland freight equalisation margin scheduled to be held on January 27.
    OGRA had earlier notified an increase in petrol price by Rs 1.65 per litre to Rs 89.54 per litre and HOBC by Rs 5.13 to Rs 111.91 per litre with effect from January 1, 2012. The prices of HSD, LDO and kerosene were retained at last month’s level of Rs 98.82, Rs 86.78 and Rs 89.24 per litre respectively. To save the people from the negative impact of high inflation resulting from the increase in POL prices, OGRA had recommended lowering the Rs 10 per litre petroleum levy (PL) on POL products. However, the Finance Ministry had rejected the proposal. The government collects Rs 23 billion per month on taxation of POL products, Rs 16 billion per month in sales tax on POL and another Rs 7 billion as PL.

    FJ

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    More than 40% of Iranian crude oil is refined in Indian refineries currently so the impact of this embargo will have a marginal impact for us as we can pay for oil in gold or some other commodity. Oil subsidies in Iran have been removed making life very difficult for the ordinary Iranian as prices of commodities have gone up.That's who i feel really for in this unnecessary and avoidable situation
    Age is a very high price to pay for maturity.

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    with ongoing CNG crisis & increasing petrol prices, coming days would be too difficult for commuters
    don't love the car you own.., own the car you love!
    my blog: CarSpiritPK.com

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    Government is expected to announce new prices on 27th of this month. Better fill up your tanks before that. Because MAGICALLY all pumps will run out of petrol on the 27th and then MAGICALLY get refilled at 12.00am on the 28th

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    Yes, traveling would become luxury rather necessity

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    Now our govt. must realize the importance of CNG.
    top documentaries " Tears of Gaza"

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    filling ur tanks isnt the solution buddy.

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    US-Iran standoff to send fuel prices through the roof -360447
    top documentaries " Tears of Gaza"

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    ^^^

    i did nt know Pakistan had such a nice well wisher abroad..

    and look at them trying to sell us LNG instead of natural gas from Iran..
    top documentaries " Tears of Gaza"

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