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Thursday April 18, 2024

Caretakers slash petrol price by Rs14 per litre

Price cut comes as relief to inflation-hit Pakistanis

By Saif Ur Rehman
December 15, 2023
Employees at a fuel station attend to their customers in Islamabad, on February 16, 2022. — AFP/File
Employees at a fuel station attend to their customers in Islamabad, on February 16, 2022. — AFP/File

ISLAMABAD: The caretaker government, providing relief to the inflation-hit Pakistanis, slashed the price of petrol by Rs14 per litre.

In a notification, the Finance Division said the new prices of petroleum products for the fortnight — starting from December 16 and remaining in place till December 31 — were recommended by the Oil and Gas Regulatory Authority (Ogra).

Petrol's price has been dropped to Rs267.34 per litre, while diesel rate has been decreased by Rs13.50 per litre to Rs276.21 per litre, according to the Finance Division's statement.

ProductsExisting price
New price
Increase/Decrease
Petrol
Rs281.34
Rs267.34
- Rs14
High Speed Diesel (HSD)
Rs289.71
Rs276.21- Rs13.50
Kerosene oilRs201.16Rs191.02- Rs10.14
Light diesel oilRs175.93Rs164.64- Rs11.29

The division further said that Kerosene oil's price has been slashed by Rs10.14 per litre to Rs191.02 and the light diesel oil will be available at Rs164.64 per litre after a reduction of Rs11.29.

The fuel prices were expected to fall in the next fortnightly review due to a substantial drop in global oil prices over the past two weeks.

The government reviews the prices of petroleum products every fortnight and adjusts them according to the international market trends and the exchange rate of the rupee.