ISLAMABAD: Finance Minister Ishaq Dar has announced reduction in petroleum products’ prices on Thursday for the second fortnight of the ongoing month (from 16th December to 30th December).

In a televised address, finance minister said prime minister wanted maximum relief should be provided to the people by passing in prices decrease.

He said petrol price has been reduced to Rs214.80 from Rs 224.80 after decrease of Rs 10 per litre, high speed diesel to Rs 227. 80 from Rs 235.30 after a cut of Rs 7.50 per litre, Kerosene oil price has been reduced to Rs171.83 from Rs181.83 after a reduction of Rs 10 per litre and light diesel oil new prices will be Rs 169 from Rs 179 after a cut of Rs 10 per litre.

He said from first October onward total reduction in the prices during the last three was Rs 22.63 in petrol, high speed diesel Rs 19.63, light speed diesel prices Rs 28.28 and kerosene oil Rs 30.19.

Experts see significant cut in prices of petrol, diesel

The government decided to reduce the prices on recommendations of oil and gas regulatory authority (OGRA) and adjusted petroleum levy on the petroleum products.

Government had kept the petrol and High-Speed (HSD) Diesel prices in Pakistan unchanged during the last fortnight, except Light Diesel Oil (LDO) and Kerosene, which witnessed a cut of Rs 10 per litre and Rs 7.5 per litre, respectively.

Copyright Business Recorder, 2022