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Prices of petroleum products reduced

  • Petrol and diesel rates decreased by Rs5 per litre
  • New prices will be effective from December 16
15 Dec, 2021

The government has reduced the prices of petroleum products with effect from Dec 16 (Thursday) following fluctuation in global oil prices.

According to a notification issued by the Finance Division, the government decided to revise the existing prices "in view of the declining price trend of petroleum products in the global market[s] and [to] transform the impact to the masses".

The government has slashed the prices of petrol and high-speed diesel by Rs5 per litre. The new price of petrol will be Rs140.82 per litre against the previous price of Rs145.82 per litre. The new price of HSD will be Rs137.62 per litre as against Rs142.62 per litre.

Prices of petroleum products increased again

Meanwhile, the prices of kerosene and light diesel oil (LDO) were decreased by Rs7 and Rs7.01 per litre, respectively. The new price of kerosene is Rs109.53 per litre and that of light diesel oil is Rs107.06 per litre.

Petrol prices are a major component of Pakistan's inflationary calculations. In November, inflation clocked in at 11.5%, close to a two-year high, with the government coming under immense criticism over rising prices.

Comments

Comments are closed.

Zafar Ullahdf92 Dec 15, 2021 10:57pm
Zafarullah
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Saleem Dec 16, 2021 01:58am
Bad decision. Instead of reducing the prices, should have used the opportunity to increase state revenue that could be used to reduce poverty through direct subsidy or cash pay out to poor
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Ali Haider Dec 19, 2021 10:55am
@Saleem, agreed
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