Islamabad, 16 January, 2024,(GNP): In a notable development, the caretaker government has announced a sigh of relief for consumers by implementing a reduction in the petrol price. The new price is set at Rs259.34 per litre, reflecting a substantial decrease of Rs8 per litre.
The Finance Division has officially communicated the revised prices of petroleum products, effective from January 16 (Tuesday). These adjustments align with the recommendations provided by the Oil and Gas Regulatory Authority (OGRA).
While the diesel rate remains unchanged at Rs276.21 per litre, the latest revision includes a reduction in the prices of kerosene oil and light diesel oil. Kerosene oil sees a decrease of Rs1.97 per litre, while light diesel oil experiences a reduction of Rs0.92 per litre.
News sources on Sunday revealed that the upcoming fuel price review might see a decrease of over Rs5 in petrol prices, while the high-speed diesel (HSD) is expected to remain unchanged.
Also Read: Pakistan dispatches fourth consignment of aid for Gaza
The caretaker government is contemplating a reduction of Rs5.32 per litre in petrol prices starting from January 16. However, it is anticipated that there will be no adjustment in the high-speed diesel (HSD) price.
This decision is based on the observed decline in international prices of POL (petrol, oil, and lubricants) during the current fortnight and the strengthening of the rupee against the US dollar, as revealed by a senior government official.
Over the previous two weeks, the government kept the rates steady at Rs267.34 per litre for petrol and Rs276.21 per litre for diesel.
During this period, the price of kerosene oil decreased to Rs188.83, reflecting a reduction of Rs2.19 per litre. In contrast, the cost of Light Diesel Oil has risen to Rs165.75, with the government implementing an increase of Rs1.11 per litre.
