By Staff Reporter
ISLAMABAD: The government has slashed petrol and diesel prices by as much as Rs13.06 per litre, effective Monday.
The move marks the fourth consecutive decrease in petrol prices, driven by the decline in global fuel rates over the past two weeks.
The new petrol price of Rs249.10 per litre marked a Rs10 decrease from the previous rate of Rs259.10, while high-speed diesel (HSD) fell by Rs13.06 to Rs249.69 per litre from Rs262.75, the finance ministry said in a statement.
“The Oil and Gas Regulatory Authority (Ogra) has worked out the consumer prices of petroleum products, based on the price variations in the international market,” it added.
Kerosene oil prices decreased by Rs11.15 to Rs158.47 per litre from Rs169.62, while light diesel oil (LDO) fell by Rs12.12 to Rs141.93 per litre from Rs154.05.
The price cut, which did not alter the current levels of the petroleum levy or General Sales Tax, follows a decline in global crude oil prices. Petrol prices fell from around $81 per barrel to less than $76 per barrel, while HSD prices dropped from $88.5 per barrel to around $83 per barrel.
The import premium for petrol and HSD remained stable, while the exchange rate was relatively unchanged. The move is expected to boost fuel sales, which have dropped significantly in recent months.
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