Govt reduces petrol price by Rs1.5 per litre

The government announced on Tuesday that prices of petrol as well as high-speed diesel (HSD) will be decreased by Rs1.5 per litre from September 1.

This decrease in petrol prices is aimed at providing "maximum relief" to the general public.

Petrol will now be priced at Rs118.3 per litre, while HSD will be priced at Rs115.03 per litre, according to a notification issued by the Finance Division. New prices of kerosene and LDO will now be Rs.86.80 per litre (reduction of Rs1.5) and Rs.84.77 per litre (reduction of Re1), respectively.

Earlier, the Oil and Gas Regulatory Authority (Ogra) recommended a substantial decrease in the prices of petroleum products, said sources. The Authority wanted to decrease the price of petrol by Rs3.5 per litre.

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OGRA also recommended reduction in the price of HSD by Rs5 per litre, whereas prices of SKO and LDO to be decreased by Rs3 per litre and Rs2 per litre, respectively.