Government cuts POL product prices

According to a notification issued by the ministry of finance, the new price of petrol will be Rs108.56 per litre after the cut while for high-speed diesel the price would be Rs110.76 per litre.

Whereas the new price of kerosene oil per litre after Rs2.06 the reduction will be Rs80 and light diesel's cost after a decrease of Rs2.21 per litre will be Rs77.65.

Earlier, Oil and Gas Regulatory Authority (OGRA) had also recommended a decrease of Rs2 per litre in petrol prices, starting from April 16.

The Prime Minister has approved a reduction in petrol prices by Rs 1.79 and the price of diesel by Rs 2.32 applicable from tomorrow.
Reductions in kerosene and light diesel oil too as per below: pic.twitter.com/ubT0Re7j6t

— Hammad Azhar (@Hammad_Azhar) April 15, 2021

According to GNN, OGRA  also proposed to decrease petrol price by Rs. 2 and has sent a summary in this regard to the Petroleum Division, seeking revision of fuel prices for the next 15 days starting tomorrow.

Prices of both petrol and diesel are recommended to be decreased. However, there was no information about the change in the price of kerosene oil and light diesel.

The final decision regarding the prices will be taken by the final decision on petroleum prices products will be taken by Finance Ministry in consultation with Prime Minister Imran Khan.

It is expected to be announced this evening.

If implemented, the new price of petrol will be Rs108.35 per litre after the cut while for diesel the price would be Rs. 111.08 per litre.

On March 31, Finance Minister Hammad Azhar announced Rs. 1.50 per litre cut in the price of petrol while Rs. 3 per litre decrease in that of diesel.

The current levy on petrol is Rs 17.97 per litre while the current levy on diesel is Rs 18.36 per litre.

Earlier on April 1, the government also reduced the price of diesel and petrol by Rs3 and Rs1.5 respectively.

On January 15, OGRA had proposed to increase petroleum rates by Rs. 13 per litre but PM had approved Rs. 3.20 increase in prices.