ISLAMABAD: Finance Minister Senator Muhammad Ishaq Dar today announced reduction in the prices of petrol, diesel and kerosene.
Dar announced Rs10 per liter cut in the price of petrol from Dec 16. Now the new price of petrol will be Rs 214.80 a liter after Thursday midnight.
Meanwhile, after a reduction of Rs7.50 per liter, diesel will be sold at Rs 227.80 while Kerosene will be sold for Rs171.83 a liter.
Dar said the reduction in petro-prices was in line with PM Shehbaz Sharif’s desire to provide relief to the people. Below is the table of old and new prices of petroleum products.
| Commodity | Existing prices w.e.f 1.12.2022 | New prices w.e.f 16.12.2022 | Increase/Decrease (in rupees) |
| Petrol | Rs224.80 | Rs214.80 | -10.00 |
| Diesel | Rs235.30 | Rs227.80 | -7.50 |
| Kerosene oil | Rs181.83 | Rs171.83 | -10.00 |
| Light diesel oil | Rs179 | Rs169 | -10.00 |
Finance Minister Muhammad Ishaq Dar said that since the beginning of the ongoing quarter (October- December) of the fiscal year 2022-23, the prices have cumulatively declined by:
- Rs22.63 per litre in petrol price
- Rs19.63 per litre in the price of high-speed diesel
- Rs28.28 per litre in the price of light diesel oil
- Rs30.19 per litre in the price of kerosene oil
The decline comes amid a drop in international oil prices. As of December 15, Brent crude futures were down 33 cents or 0.4% at $82.37 a barrel by 1453 GMT and US crude futures lost 43 cents or 0.6% to $76.85.
