ISLAMABAD: The federal government on Wednesday has announced to decrease the prices of petroleum products for the second half of December.
According to a notification issued on Wednesday, the price of petrol has been decreased by Rs 5 to Rs140.82 per litre, while price of High Speed Diesel (HSD) has been decreased by Rs5 to Rs137.62 per litre.
On the other hand, the prices of Light Diesel Oil (LDO) had been decreased Rs 7.01 at Rs107.06 per litre, while price of Kerosene Oil has decreased Rs 7 to Rs 109.53 per litre.
The new rates of petroleum products will be enforced today at midnight.
The federal government took decision to cut down prices over the recommendations of Oil and Gas Regulatory Authority (Ogra).
OGRA had proposed a reduction of up to Rs8 to 10 per litre in prices of petroleum products for the rest of December.
According to the sources, the prices of petroleum products in the world market stood at $74 per barrel, the prices have come down by 10% as compared to last month.
It is pertinent to mention here that Prime Minister Imran Khan on December 1 had rejected the OGRA summary and maintained the petrol prices for the next 15 days.
