Furnace oil price shoots up by Rs 2212 per ton

Pakistan State Oil has raised the furnace oil price after steep rise in crude oil price last fortnight by Rs 2212 per ton.

The new price effective from May 1 would be Rs 47,809 per ton as compared to Rs 45,597 per ton of the last fortnight. The company announces price of imported furnace oil price on fortnightly basis.

The price if compared with the start of this fiscal year shot up by Rs 12,503 per metric ton, but as the contribution in the power generation through furnace oil has been around 33 percent, the government was forced to allow decrease in tariff through monthly fuel adjustment.

According to the data collected the average fuel adjustment per month was around Rs 2.70 per unit, while highest adjustment of Rs 3.60 per unit and lowest of Rs 2.49 per unit since July 1, 2016.