The caretaker federal authorities has slashed the worth of petrol by Rs14 per litre and high-speed diesel (HSD) by Rs13.50 per litre on Friday, offering much-needed reduction to the individuals who have borne the brunt of a difficult financial disaster since mid-2022.
The discount got here after the worth of crude oil fell in worldwide markets and the Pakistani rupee appreciated towards the US greenback.
In accordance with a notification issued by the Finance Division, the worth of kerosene oil has been diminished by Rs10.14 whereas the tariffs of light-diesel oil (LDO) have been minimize by Rs11.29 per litre.
The brand new costs of Petroleum Merchandise for the fortnight ranging from 16th December, 2023, as beneficial by Oil and Gasoline Regulatory Authority (OGRA). pic.twitter.com/ouNPFx6LfM
— Ministry of Finance, Authorities of Pakistan (@Financegovpk) December 15, 2023
It acknowledged that the costs of petroleum merchandise had been diminished following a advice by the Oil and Gasoline Regulatory Authority (Ogra). After the discount, the worth of petrol has been diminished from Rs281.34 to Rs267.34 per litre.
Learn extra: Over Rs13 per litre minimize in petrol worth doubtless
Petrol is predominantly utilized in motorbikes and automobiles as an alternative choice to compressed pure fuel (CNG), particularly within the Punjab province the place indigenous fuel will not be accessible at CNG stores.
Equally, the tariff of HSD has been slashed from Rs289.71 to Rs276.21 per litre. HSD is primarily used within the agriculture and transport sectors, and this worth discount could assist alleviate inflation to some extent.
The brand new worth of kerosene oil, whose consumption will increase considerably throughout winters in distant areas, had turn out to be Rs191.02 per litre whereas LDO was accessible at Rs164.64 per litre.
Kerosene oil is often utilized in stoves, notably in distant areas, together with the northern areas of the nation. The Pakistan Military can also be a significant shopper of kerosene oil.