Govt cuts petrol, HSD prices by Rs5 a litre

ISLAMABAD: The federal government has reduced prices of petroleum products by up to Rs7.01 per litre on the proposal of the Oil and Gas Regulatory Authority (OGRA).
According to a notification, the Finance Division has lowered the rate of petrol by Rs5 to Rs140.82 per litre. The price of diesel has been brought down by Rs5 to Rs137.62 per litre, light diesel by Rs7.01 to Rs107.06 per litre and the rate of kerosene by Rs7 to Rs109.53 per litre.
The development comes as the price of crude oil has seen a decline worldwide recently. Earlier, it was reported that OGRA had proposed a reduction in prices of petroleum products by Rs8 to Rs10 per litre.
Last month, the government announced that it will maintain the prices of petroleum products for the December 1-15 period in line with Prime Minister Imran Khan’s decision.
Earlier this week, Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin had said that following the drop in prices in the global market, petrol prices in Pakistan would also undergo a reduction. – TLTP