ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has reduced oil prices by up to 5.6% for September, a change that will take effect from Saturday. It is the government’s first official notification on petroleum products since being elected to power.
The price of high-speed diesel (HSD), widely used in the agriculture and transport sectors, has come down by Rs6.37 per litre (5.6%), decreasing from Rs112.94 to Rs106.57 per litre.
Petrol has become cheaper by Rs2.41 per litre (2.5%), down from Rs95.24 to Rs92.83. The demand for petrol has increased following the ban of indigenous gas at CNG retail outlets.
The price of kerosene oil has been reduced by Rs0.46 per litre (0.55%). It will now be priced at Rs83.50.
The rate for light diesel oil (LDO) saw a hike of Rs0.59 per litre, and will now be set at Rs73.96.
The finance ministry said that Prime Minister Imran Khan, on the recommendation of the Oil and Gas Regulatory Authority (Ogra), approved the change in prices of petroleum products.
The Ministry of Energy (Petroleum Division) had earlier proposed a hefty cut in the prices of petroleum products in a bid to provide relief to the consumers.