POL bomb explodes again
Staff Report

ISLAMABAD—Oil Companies Advisory Committee Friday announced to increase petroleum products’ prices in the country.
Price of petrol has been increased by Rs. 3.68 to Rs.56.29 per litre and diesel by Rs.2.59 to Rs. 37.18 per litre. Light diesel price has been raised to Rs. 30.97 per litre, kerosene oil to Rs. 32.89 and HOBC to Rs. 62.77 per litre. New prices would be implemented from October 01.
Frequent rise in prices of petroleum products is stated to be a phenomena of upsurge in global prices. However, the Opposition has already warned against further increase of POL prices and indicated to take issue to streets.
According to the Government, national exchequer has already absorbed approximately Rs.50 billion on account of POL imports on higher prices from the global market.
Now oil prices in global market are showing some respite after US hurricanes Katrina and Rita which triggered steep price rise.