Overview
After decreasing the petrol prices in the global market, the government has finally decided to reduce petrol prices in Pakistan. We were expected that the prices will reduce by Rs 11 per liter, but the government has not reduced the prices as per our expectations. Its been a month ago petroleum products prices were slashed in the international market. Petrol prices rising in Pakistan from the last couple of months we are eagerly waiting for the reduction. The rising prices of petrol also affected the automotive industry. They mentioned the reason, freight cost higher after petrol prices rise. `
OGRA Proposal For Petrol Prices
The Oil And Gas Regulatory Authority (OGRA) has sent the proposal to the government to reduce petrol price by Rs 10.77 per liter and High-Speed Diesel by Rs 7.73 per liter. Meanwhile, the government has reduced petrol and High-Speed Diesel price by Rs 5 per liter and Kerosene Oil and Light Speed Diesel prices by Rs 7 per liter.
New Petrol Prices
As per the government notification, new prices are affected from today and now you can get petrol at a new reduced rate. Here are the new prices after reduction:
- After reduction of Rs5 new Petrol price is Rs 140.82 per liter.
- Diesel is now available at Rs 137.62 per liter and the old rate was Rs 142.62.
- Kerosene oil prices are reduced from Rs116.53 to Rs 109.53 per liter.
- Light Speed Diesel’s new rate is Rs 107.06 per liter instead of Rs 114.07.
Conclusion
However, it is not as per our expectation but maybe it is just the beginning and the government will reduce more after a few weeks. It is good to hear that the series of rising petrol prices are now stopped. The fact is the government needs to manage all the things it not only the mater of reducing petrol prices they need to manage everything to control inflation.
