ISLAMABAD: Finance Minister Senator Ishaq Dar announced that price of petrol had been slashed by Rs 10 to Rs 214.80 per litre for next fortnight effective from December 16.

In a video address, Dar said petrol price was reduced in line with Prime Minister Shehbaz Sharif’s aspirations of providing maximum relief to masses.

As result of revised rates of petroleum products, diesel will now sell at Rs 227.80 per litre after a reduction of Rs 7.5 per litre. Prices of kerosene and light diesel oil have also been slashed to Rs 171.83 and Rs 169 per litre, respectively.

Government on November 30 kept price of petrol and diesel unchanged. Prices of kerosene and light diesel oil were slashed by Rs 10 per litre and Rs 7.5 per litre, respectively.

Finance Minister mentioned that since start of ongoing quarter (October-December) of Fiscal Year 2022-23, price of petrol cumulatively had declined by Rs 22.63 per litre, high-speed diesel by Rs 19.63 per litre, light diesel oil by Rs 28.28 per litre and kerosene by Rs 30.19 per litre. Decline comes amid a drop in international oil prices. As of December 15, Brent crude futures were down 33 cents or 0.4 percent at $ 82.37 barrel and US crude futures lost 43 cents or 0.6 percent to $ 76.85.

Published in The Daily National Courier, December, 16 2022

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