Petrol Rates
ISLAMABAD: In a welcome development, the caretaker government in Pakistan has announced a significant reduction in the price of petrol for the upcoming fortnight. Effective from January 16 (Tuesday), the new price is set at Rs259.34 per litre, reflecting a substantial decrease of Rs8 per litre. This decision follows the recommendations of the Oil and Gas Regulatory Authority (Ogra) and aims to provide relief to consumers grappling with high fuel costs.
Conversely, the diesel rate remains unchanged at Rs276.21 per litre, maintaining stability in the pricing of this essential fuel. The Finance Division officially notified these adjustments, emphasizing the government’s commitment to aligning fuel prices with market dynamics.
A detailed breakdown of the revised petroleum product prices reveals a reduction in the rates of kerosene oil and light diesel oil. Kerosene oil sees a decline of Rs1.97 per litre, bringing the new price to Rs186.86, while light diesel oil witnesses a decrease of Rs0.92 per litre, resulting in a revised price of Rs164.83.
The anticipation of a petrol rates reduction had been circulating, with initial reports suggesting a decrease of over Rs5. However, the final decision marks a more substantial relief for consumers.
Notably, the decision to maintain the diesel rate was attributed to favorable international market conditions for petrol, oil, and lubricants (POL) during the preceding fortnight, coupled with an increase in the value of the Pakistani rupee against the US dollar.
In the previous fortnight, the government had sustained petrol and diesel prices at Rs267.34 and Rs276.21 per litre, respectively. The latest adjustments underscore the government’s responsiveness to market fluctuations and its efforts to ease the financial burden on the public amid challenging economic conditions.
