Govt approves reduction in petroleum prices


The government has approved a reduction in the prices of petroleum products, Express 24/7 reported on Thursday.



ISLAMABAD: The government has approved a reduction in the prices of petroleum products, Express 24/7 reported on Thursday.


The price of petrol has been reduced by three rupees and now stands at Rs83.71 per litre.


The price of diesel prices has been decreased to Rs81.39 per litre and high-speed diesel price has been reduced by two rupees to Rs92.11 per litre. The price of kerosene oil remains unchanged.


The new prices will be effective from July 1.


The reduction in petrol prices comes as international oil prices had declined over the past month.


The government has deregulated prices of oil, allowing for more flexibility in pricing to various oil marketing companies, though the import prices of the government-owned Pakistan State Oil (PSO) will serve as the benchmark against which pricing decisions will be monitored by the Oil and Gas Regulatory Authority (Ogra).

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