Petrol Price in Pakistan drops by Rs14 per litre

ISLAMABAD: The caretaker government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs14 and Rs13.50 per litre, respectively, for the next fortnight, ARY News reported.

According to a notification from the Ministry of Finance, the new prices of petrol and HSD are Rs267.34 and Rs276.21.

The new prices of petroleum products for the fortnight — starting from Dec 16 to Dec 31 — were recommended by the Oil and Gas Regulatory Authority (OGRA).

Meanwhile, the prices of kerosene oil and light-diesel oil were reduced by Rs10.14 and Rs11.29 per litre, respectively, to Rs191.02 and Rs164.64.

Last fortnight, the government had retained the previous petrol price, however, a reduction of Rs7 per litre was announced on diesel, Rs3.82 on kerosene oil and Rs4.52 on light-speed diesel (LSD).

Earlier, it was reported that the prices of major petroleum products were set to fall by over Rs10 per litre each mainly because of a decline in the international market.

Sources claimed that the prices of petrol and diesel in international market had declined over the past fortnight by almost five percent.