Price of petrol reduced by Rs1.20, diesel by Rs1.60

ISLAMABAD: The government has reduced prices of petroleum products for the month of June, Finance Minister Ishaq Dar announced on Wednesday.

He said that the price of directed MS 92 RON Petrol have been reduced by Rs. 1.20 per litre, and High Speed Diesel (HSD) have been reduced by Rs. 1.60 per litre.

The new prices for petrol will be Rs. 72.80 per litre and for Diesel will be Rs. 81.40 per litre.

The prices of light diesel and kerosene oil will remain unchanged at 44 rupees per liter. The new prices will take effect from midnight today.

The Ministry of Petroleum & Natural Resources and OGRA had recommended an massive increase of Rs. 13.54 per litre in the price of Kerosene Oil and of Rs. 9.28 per litre in the price of Light Diesel Oil (LDO).

It had also recommended a decrease of Rs. 2.43 per litre in the price of petrol, and Rs. 3.31 per litre in the price of High Speed Diesel (HSD).

The finance minister stated that it has been decided to maintain the prices of kerosene and LDO at the current level to provide maximum relief to the common man, and keeping in view that caters to the energy needs of the low income segments of the population.

Dar highlighted that the government has absorbed significant impact of price increases since April 2016 and has suffered considerable loss of revenue, and has passed only partial increases since December 2016.