The government is doing its best to provide relief to the public in this pandemic situation. Reduction in petrol prices approved by the government by PKR 7.06 per liter.
Proposal to the government to reduce petrol price
Recently Oil and Gas Regulatory Authority had sent a proposal to the government to reduce petrol prices for June 2020. Petrol price reduce at the international level because of a decrease in demand. Previously the government reduces petrol price on 1st May 2020. The government announced that new prices will affect from 1st June 2020. See below the reduction in petrol prices:
| Petroleum Products | New Price | Previous Price | Reduction |
| Petrol | PKR 74.52 per liter | PKR 81.58 per liter | PKR 7.06 per liter |
| Light Diesel Oil | PKR 38.14 per liter | PKR 47.51 per liter | PKR 9.37 per liter |
| Kerosene Oil | PKR 35.56 per liter | PKR 47.44 per liter | PKR 11.88 per liter |
According to the details in the proposal of a reduction in petrol prices, OGRA suggested that the government should slightly increase High-Speed Diesel Oil by PKR 0.5 per liter. The government has approved this right now and increases High-Speed Diesel Oil by PKR 0.5 per liter and new prices are PKR 80.15 per liter.
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Conclusion
The government has announced that petrol prices will be reduced by RS 7.06 per liter in the next two phases. They have also announced that the same will be applicable for diesel at a later date. This is great news for all of us who are dependent on vehicles.
