Govt cuts petrol price by Rs1.79 for next 15 days

ISLAMABAD (92 News) - Prime Minister (PM) Imran Khan has approved a reduction in petrol prices by 1.79 rupees and the price of diesel by 2.32 rupees.

A notification from the Finance Division in this regard issued here. These prices will be applicable from midnight.

According to a notification, the government has reduced the price of petrol by Rs1.79 per litre, high speed diesel by Rs2.32, kerosene by Rs2.06, and the rate of light diesel oil has been slashed by Rs2.21 per litre.

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

In a tweet today, Finance Minister Hammad Azhar said Kerosene has been reduced by 2.06 while the Light Diesel Oil has been reduced by 2.21.

The new price of petrol will be Rs108.56 per litre. The prices of high-speed diesel and kerosene have been slashed to Rs110.76 and Rs80 per liter respectively.

Earlier, the Ogra recommended an Rs 2 decrease in the POL products. The Petroleum Division authorities said that they have received a summary regarding a decrease in the POL products.

The summary has also recommended not to increase the petroleum levy. The decrease in petroleum prices has been recommended for 15 days.

After the expected decrease, petrol and diesel will be available at Rs108.35 and Rs 111.08 per litre respectively.

After approval from Prime Minister Imran Khan, the new prices will be announced today.