The government has reduced the per litre price of petrol price by Rs15.39 for the next fortnight in the country, providing a major relief to the masses grappling with inflation.
The latest reduction in fuel prices come on the recommendation of the Oil and Gas Regulatory Authority (Ogra), Finance Division said on Wednesday.
Moreover, price of high speed diesel has also been slashed by Rs7.88 per litre from Rs281.96 to Rs274.08.
The prices of motor spirit and high speed diesel for the next fortnight are being lowered as follows:
| Products | Existing price | New price | Increase/Decrease |
| Petrol | Rs288.49 | Rs273.10 |
-15.39 |
| High Speed Diesel (HSD) | Rs281.96 | Rs274.08 | -7.88 |
“The Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market,” a statement released by the Finance Division read.
The new fuel prices will be effective from May 16 (Thursday), the statement added.
The Finance Division said that the prices of petroleum products have seen a decreasing trend in the international market during the last fortnight.
More to follow…