Petrol price expected to fall from Sept 1

ISLAMABAD: The price of petroleum products in the country is expected to fall from September 1, as the Oil and Gas Regulatory (Ogra) has sent a bi-monthly rate list to the government, sources said Monday. The Ogra has suggested to the Petroleum Division to reduce the price of petrol by Rs3.5, diesel Rs5, light diesel oil Rs2, and kerosene oil by Rs3 per litre, sources said.

However, the Ministry of Finance will take the final decision in this regard after consultations with Prime Minister Imran Khan. The Government of Pakistan on August 15 had announced that it would not increase the price of petrol for the remaining month of August, a notification issued in this regard confirmed. On the other hand, the price of kerosene oil had been increased by Rs0.81 per litre, while the price of light diesel had been increased by Rs1.10 per litre.

The new price of kerosene oil was set at Rs88.30 per litre and light diesel is being sold for Rs85.77 per litre, the notification had said. Meanwhile, petrol prices remained unchanged at Rs119.80 per litre and the price of high-speed diesel also remained unchanged at Rs116.53 per litre, the notification confirmed.