Government cuts petrol price by Rs 14 per litre

It also reduces diesel and kerosene rates.

ISLAMABAD:

The caretaker federal government on Friday cut prices of petroleum products by up to Rs 14 per liter for the next two weeks on the recommendation of the Oil and Gas Regulatory Authority.
According to a notification issued by the Finance Division, petrol, which was earlier sold at Rs 281.34 per litre, will now be available at Rs 267.34 per litre, a drop of Rs 14.
The new prices of petroleum products for the two weeks from 16 December 2023, as recommended by the Oil and Gas Regulatory Authority (OGRA).
Petroleum is an alternative to compressed natural gas (CNG), especially in Punjab where CNG outlets depend on imported gas. However, no LNG was made available to them last winter.

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Similarly, the price of high-speed diesel saw a drop of Rs 13.50 per liter to Rs 276.21 per liter from Rs 289.71 per liter earlier.
Diesel is widely used in the transport and agricultural sectors. Reducing its price will reduce the inflationary impact and provide relief to farmers.
In addition, the price of kerosene also saw a drop of Rs 10.14 per liter to Rs 191.02 from Rs 201.16 earlier.
Kerosene is an important household fuel because of its use for cooking and heating in remote areas.
Pakistan Army is also its main user in the northern part of Pakistan.
The government has also reduced the price of light diesel by Rs 11.29 from Rs 175.93 per liter to Rs 164.64 per litre. Light diesel is used in industry.