The federal government on Wednesday reduced the petrol price by Rs6.17 per litre for the next fortnight after a drop in oil rates in the global markets, according to a statement issued by the PM Office.
The new prices will be effective from August 1.
The Oil and Gas Regulatory Authority (Ogra) worked out the consumer prices for the upcoming fortnight, based on international prices and exchange rate variations, the notification read.
After Prime Minister Shehbaz Sharif’s approval, the petrol price was fixed at 269.43 from Rs275.60 per litre with a reduction of Rs6.17.
The new price of high-speed diesel (HSD) will be Rs272.77 from the existing rate of Rs283.63 per litre following a reduction of Rs10.86.
| Products | Existing price | New price | Increase/Decrease |
| Petrol | Rs275.60 | Rs269.43 | – Rs6.17 |
| High Speed Diesel | Rs283.63 | Rs272.77 | – Rs10.86 |
| Kerosene oil | Rs183.71 | Rs177.39 | – Rs6.32 |
| Light diesel oil | Rs166.25 | Rs160.53 |
The kerosene price was reduced by Rs6.32 per litre which reduced its price to Rs177.39 from Rs183.71 per litre.
Subsequently, the light diesel oil (LDO) rate was decreased to Rs160.53 per litre as opposed to the current rate of Rs166.25 per litre following a cut of Rs5.72 per litre.
