Govt slashes fuel prices for next 15 days

ISLAMABAD: The federal government on Wednesday reduced prices of petroleum products by up to Rs7 per litre effective from December 16, 2021, ARY News reported.

A notification from the Finance Division in this regard was also issued here on Wednesday.

According to a notification, the government has reduced the price of petrol by Rs5 per litre, high-speed diesel by Rs5, kerosene by Rs7, and the rate of light diesel oil has been slashed by Rs7.01 per litre.

The new price of petrol will be Rs140.82 per litre whereas, the prices of high-speed diesel and kerosene have been slashed to Rs137.62 and Rs109.53 per liter respectively.

پٹرول کی قیمت پر انشاللہ آج آپکو ایک بڑی خوشخبری ملنے جارہی ہے

— Dr. Shahbaz GiLL (@SHABAZGIL) December 15, 2021

The new rates of petroleum products will be enforced today at midnight.

The federal government reduced the prices following the recommendations of Oil and Gas Regulatory Authority (Ogra).

OGRA had proposed a reduction of up to Rs8 to 10 per litre in prices of petroleum products for the rest of December.

Sources said that the prices of petroleum products in the world market stood at $74 per barrel, the prices have come down by 10% as compared to last month.

It is pertinent to mention here that Prime Minister Imran Khan on December 1 had rejected the OGRA summary and maintained the petrol prices for the next 15 days.