Petrol price witnesses nominal decrease

BusinessPetrol price witnesses nominal decrease

ISLAMABAD: The finance ministry minimally brought down the prices of petrol, diesel, kerosene oil and high-octane, and okayed to peg the previous price of light diesel, brushing aside recommendations floated by petroleum ministry and Oil and Gas Regulatory Authority (OGRA).

The OGRA notification was issued late night regarding the change in prices of petroleum products.

   

According to the notification, the petrol has been slashed by 48 paisa—a cut that will not entail any benefit for the end consumer. Now, the price of petrol stands at Rs.112.76 per liter.

High-speed diesel also climbed down by 20 paisa to Rs.116.75/lit. Similarly, Kerosene oil price also scaled down 13 paisa; its new price now stands at Rs.108 per liter. The price of high octane also was slashed by Rs.2.72 to settle at Rs.141.23/lit.

Meantime, the price of light diesel will maintain its previous level at Rs.101.24/lit.

The recent hike in the POL prices has come into effect from the midnight of October 1.

The new prices came into effect from midnight.

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