Great News! Petroleum prices likely to reduce by up to Rs. 40

ISLAMABAD: Following the reduction in international oil prices, the prices of petroleum products in Pakistan are also estimated to decrease by Rs. 17 – 40 per litre.

Earlier this week, the Prime Minister of Pakistan, Shahbaz Sharif announced a reduction in the prices of petroleum products and urged the Petroleum Division and the Oil and Gas Regulatory Authority (OGRA) to prepare a formal summary.

In addition to this, the ex-depot price of light diesel oil (LDO) and kerosene will also be reduced by Rs. 32 and Rs. 30 per litre respectively. Therefore, the price of kerosene would then be approx. Rs. 200 per litre and the price of light diesel oil would be approx, Rs. 194 per litre.

According to sources, based on existing tax rates and import parity price, the ex-depot price of petrol would be reduced by Rs. 17 per litre and that of High-speed diesel (HSD) would be reduced by approx. Rs. 40 per litre.