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Govt cuts prices of petroleum products by up to Rs7 per litre

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The federal authorities on Wednesday diminished costs of petroleum merchandise by as much as Rs7 per litre after a proposal by the Oil and Gasoline Regulatory Authority (Ogra) earlier.

The event comes as the worth of crude oil has seen a decline worldwide not too long ago.

Sources informed The Categorical Tribune that the authority had proposed a discount in costs of petroleum merchandise by Rs8 to 10 per litre. Nevertheless, the federal government had slashed the worth of petrol by Rs5, Kerosene Oil by Rs7, high-speed diesel (HSD) by Rs5 and light-weight diesel oil (LDO) by Rs Rs7.1.

Learn extra: Petroleum prices likely to go up again as govt increases PDL

After the discount, the brand new value of petrol had come all the way down to Rs140.82, HSD to 137.62, Kerosene Oil to Rs109.53 and LDO to Rs107.06.

Final month, the federal government introduced that it’s going to preserve the costs of petroleum merchandise for the December 1-15 interval according to Prime Minister Imran Khan’s choice.

Additionally learn: Tarin hints at relief on fuel prices

Earlier this week, Adviser to the Prime Minister on Finance and Income Shaukat Tarin had stated that following the drop in costs within the international market, petrol costs in Pakistan would additionally endure a discount.

It could be famous that petroleum costs in Pakistan had touched an all-time excessive with petrol being bought at Rs146 per litre.

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