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Pakistan Top Stories

Rs 7.99 reduction in petrol prices announced

LAHORE: Prime Minister Nawaz Sharif on Saturday announced to decrease petrol price Rs 7.99 for the month of February along with decreasing other petroleum products.

The PM has announced relief for people of Pakistan in price of petroleum products, Rs 5. 62 has been reduced for  high speed diesel, Rs 10. 39 reduction for kerosene oil, Rs 11. 82 slash in HOBC, Rs 9.56 decrease in light diesel.

He made the announcement shortly after attending the passing out parade of a counter-terrorism force in Lahore.

With the new reduction in petrol prices, petroleum will now be cheaper than Compressed Natural Gas (CNG), the price of which stands at Rs76.35 for region I (Khyber Pakhtunkhwa, Balochistan and the Potohar zone including Rawalpindi and Islamabad) and Rs71.50 per kg for region II (Sindh and Punjab excluding the Potohar zone).

The current price of petrol is 78.28 per litre.

Earlier OGRA had sent a summary to Ministry of Petroleum to reduce prices by up to 14 rupees per liter from February 1.

Oil and Gas Regulatory Authority (OGRA) on Thursday recommended reducing the petrol price by Rs 10, high octane by Rs 14 per liter, high speed diesel by Rs 8.65 per liter, kerosene oil Rs 12 and light diesel Rs 11 per liter.

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