In a recent announcement, the Government of Pakistan has opted to keep the prices of petrol steady at Rs281.34 for the upcoming fortnight, while simultaneously endorsing significant reductions in other petroleum products. This decision, in line with the recommendations put forth by the Oil and Gas Regulatory Authority (OGRA), aims to address economic considerations and provide relief to consumers.
According to an official press statement released by the finance ministry on Thursday, high-speed diesel prices witness a notable decrease of Rs.7 per liter, dropping from Rs296.71 to Rs289.71. This move is expected to positively impact various sectors heavily dependent on diesel consumption, such as transportation and industrial activities.
Furthermore, the government has implemented a reduction of Rs3.82 per liter in kerosene oil prices, bringing the cost down from Rs204.98 to Rs201.16. This adjustment seeks to alleviate the financial burden on households that rely on kerosene for lighting and heating purposes.
In addition, the prices of light diesel oil have seen a substantial cut of Rs4.52 per liter, declining from Rs180.45 to Rs175.93. This reduction is anticipated to contribute to cost savings for sectors employing light diesel oil, fostering economic stability.
The decision to maintain petrol prices unchanged reflects a strategic approach to balance economic considerations while addressing the needs of various segments of society. The government’s commitment to periodic revisions, guided by regulatory recommendations, underscores a transparent and accountable approach to managing petroleum product pricing for the benefit of the public and the economy at large.
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