Govt slashes petrol price by Rs14 per litre

The caretaker federal government on Friday decreased the prices of petroleum products by up to Rs14 per litre for the next fortnight on the recommendation of the Oil and Gas Regulatory Authority.

According to a notification issued by the Finance Division, petrol, which was earlier being sold at Rs281.34 per litre, will now be available at Rs267.34 per litre, showing a drop of Rs14.

Petrol is an alternative to the compressed natural gas (CNG), especially in Punjab where CNG outlets rely on imported gas. However, in the recent winter, LNG was not made available to them.

Similarly, the price of high speed diesel witnessed a decrease of Rs13.50 per litre to Rs276.21 per litre from the previous Rs289.71 per litre.

Diesel is widely used in transport and agriculture sectors. The reduction in its price will bring the inflationary impact down and relief for farmers.

Further, the price of kerosene oil also witnessed a decline of Rs10.14 per litre to Rs191.02 from the earlier Rs201.16.

Read more: Over Rs13 per litre cut in petrol price likely

Kerosene oil is an important household fuel because of its use for cooking and heating purposes in remote areas.

Pakistan Army is also its key user in the northern part of Pakistan.

The government also cut the price of light diesel oil by Rs11.29 from Rs175.93 per litre to Rs164.64 per litre. The light diesel oil is used in industry.