In a relief to masses, caretakers cut petrol price by Rs8 per litre

ISLAMABAD: In a relief to the inflation hit masses, the caretaker government Monday announced a Rs 8 per litre reduction in petrol price. The Finance Division notified the new prices of the petroleum products for the next fortnight starting from January 16 (Tuesday), as per the Oil and Gas Regulatory Authority's (Ogra) recommendations.

Following the reduction, petrol price stands at Rs 259.34 per litre compared to the previous rate of Rs267.34 per litre. Meanwhile, the government has kept the price for high speed diesel unchanged at Rs276.21 per litre. Also, rates of light diesel and kerosene oil have also been slashed with the latter witnessing a reduction of Rs1.97 per litre.

In the past fortnight, the government had maintained petrol and diesel rates at Rs267.34 and Rs276.21 per litre respectively. The price of Kerosene oil had dropped to Rs188.83 after a reduction of Rs2.19 per litre while Light Diesel Oil was being sold at Rs165.75 as the government jacked up its price by Rs1.11.

More to follow....