Petroleum prices in Pakistan to be reduced significantly: Sources

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Petroleum prices in Pakistan to be reduced significantly: Sources

ISLAMABAD – Federal government has decided to significantly reduce the petroleum prices in the country.

The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to petroleum division on Thursday recommending that the petroleum prices should be decreased by Rs 6 per liter.

The summary refers to petroleum products whose prices should be decreased under monthly readjustment formula.

According to the summary, the rate of diesel will be decreased by Rs6 per liter, petrol prices by Rs 2 and kerosene oil Rs30 paisa per liter, while the rate of light diesel price proposed to be increased by 70 paisa per liter.

Revised prices of petroleum products will be enacted after Prime Minister Imran Khan’s approval.

The current price of petrol is Rs95.24 per liter, high-speed diesel Rs112.94 per, light diesel Rs75.37 per liter and Kerosene oil Rs83.96 per liter.