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Govt slashes fuel prices for next 15 days

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Abdul Qadir
Abdul Qadir
Abdul Qadir is a senior journalist working with Pakistan's biggest news channel ARY News. He is covering Prime Minister Office and Federal Cabinet of Pakistan

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.

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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.

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

Read more: OGRA SUGGESTS REDUCTION IN POL PRICES

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.

Read more: PETROL PRICE MAY GO UP IN PAKISTAN AGAIN, SAYS SHAUKAT TARIN

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.

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