Ishaq Dar announces Rs10 reduction in petrol prices

ISLAMABAD: Finance Minister Ishaq Dar on Thursday announced the reduction in petrol price by Rs10 per litre, ARY news reported.

Addressing a press conference, Finance Minister Ishaq Dar said that the price of petrol has been slashed by Rs10 per litre, and prices of kerosene and high-speed diesel have been reduced by Rs7 per litre.

After the reduction in petroleum prices, the new prices will be of petrol Rs214.80 per ltr, the high-speed diesel RS. 227.80 per ltr, the light diesel is Rs 169 per ltr and kerosene oil is reduced to Rs. 171.83 per ltr.

The new prices of petroleum products will be taken into effect from 12 pm tonight for the next 15 days.

The Oil and Gas Regulator Authority (OGRA) had also started working on the revised petroleum prices and would send a summary to the Ministry of Finance.

It was also reported that the national oil and gas regulator would suggest an increase in the general sales tax, which has currently been kept at zero; the levy on petroleum prices is already at Rs50 following IMF guidelines.