Govt reduces petrol by Rs6.16 per litre

Islamabad: The federal government on Wednesday reduced the prices of petrol and high-speed diesel (HSD) for the next fortnight, with petrol prices decreased by Rs6.17 and diesel prices by Rs10.86.

The Ministry of Finance released a notification following approval from Prime Minister Shehbaz Sharif. According to the notification, the new price of petrol is Rs269.43 per liter, and the new price of diesel is Rs272.77 per liter.

Additionally, the prices of kerosene oil and light diesel oil (LDO) have been lowered by Rs6.32 and Rs5.72 per liter, respectively. The new price for kerosene oil is Rs177.39 per liter, down from Rs183.71, and for LDO, it is Rs174.76 per liter, reduced from Rs180.48.

The notification highlighted that the prices of petroleum products have fluctuated in the international market over the last fortnight. The Oil and Gas Regulatory Authority (OGRA) calculates consumer prices for the upcoming fortnight based on international prices and exchange rate variations.

In the previous two fortnights, the prices of petrol and HSD had increased by Rs7.45 and Rs9.56 per liter on June 30, followed by an increase of Rs9.99 and Rs6.18 per liter for petrol and HSD, respectively, on July 16.