Fresh updates: Petrol price in Pakistan

OGRA has recommended a decrease of Rs5 per litre in the price of petrol.

ISLAMABAD: In a move welcomed by consumers, the federal government is anticipated to reduce the price of petrol by Rs5 per litre starting January 16, according to sources within the Oil and Gas Regulatory Authority (OGRA).

OGRA has recommended a decrease of Rs5 per litre in the price of petrol, Rs2 in diesel, Rs3 in kerosene oil, and Rs1.75 in LSD. The decision, set to be finalized on January 15, follows OGRA’s assessment of international oil prices.

The government’s commitment to revising petroleum prices aligns with OGRA’s recommendation, providing relief to the public amidst economic challenges. Notably, the previous fortnight saw the government maintaining petrol and high-speed diesel (HSD) prices unchanged.

As of the first half of January 2024, the current prices stand at Rs267.34 for petrol and Rs276.21 for diesel in Pakistan. The upcoming decrease aims to alleviate the financial burden on consumers and foster positive economic implications.

Stay tuned for the official announcement on January 16, 2024, as the government works towards implementing the revised petroleum prices.