ISLAMABAD: The federal government on Tuesday slashed prices of petroleum products by up to Rs1.55 per litre effective from September 1, 2021.
It reduced the price of high-speed diesel (HSD) by Rs1.50 per litre, petrol by Rs1.50 per litre, kerosene oil by Rs1.50 per litre and light diesel oil (LDO) by Rs1 per litre. The government had increased prices of petroleum products over the past several months.
According to a notification issued by Finance Division, “Despite international price fluctuations in petroleum products and anticipated increase in future prices, the government has reduced the prices in order to provide maximum relief to the consumers.”
The petrol will now cost Rs118.30 per litre, high speed diesel (HSD) to cost Rs115.03 per litre, kerosene to cost Rs86.80 per litre, and Light diesel oil cost Rs84.77 per litre.
The Oil and Gas Regulatory (OGRA) has suggested the Petroleum Division reduce the price of petrol by Rs3.5, of diesel by Rs5, of light diesel oil Rs2, and kerosene oil by Rs3, sources told Geo News on Monday.
In the last two weeks of August, the government, which revises the rate of petroleum products twice a month, announced that prices will remain the same for the rest of the month for petrol and high speed diesel.
On the other hand, the price of kerosene oil was increased by Rs0.81 per litre, while the price of light diesel had been increased by Rs1.10 per litre.
