Govt cuts prices of petroleum products by up to Rs7 per litre
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The federal government on Wednesday reduced prices of petroleum products by up to Rs7 per litre after a proposal by the Oil and Gas Regulatory Authority (Ogra) earlier.
The development comes as the price of crude oil has seen a decline worldwide recently.
Sources told The Express Tribune that the authority had proposed a reduction in prices of petroleum products by Rs8 to 10 per litre. However, the government had slashed the price of petrol by Rs5, Kerosene Oil by Rs7, high-speed diesel (HSD) by Rs5 and light diesel oil (LDO) by Rs Rs7.1.
Read more: Petroleum prices likely to go up again as govt increases PDL
After the reduction, the new price of petrol had come down to Rs140.82, HSD to 137.62, Kerosene Oil to Rs109.53 and LDO to Rs107.06.
Last month, the government announced that it will maintain the prices of petroleum products for the December 1-15 period in line with Prime Minister Imran Khan’s decision.
Also read: Tarin hints at relief on fuel prices
Earlier this week, Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin had said that following the drop in prices in the global market, petrol prices in Pakistan would also undergo a reduction.
It may be noted that petroleum prices in Pakistan had touched an all-time high with petrol being sold at Rs146 per litre.
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