After continuous rise in the price of petroleum products, the federal government on Friday reduced the price of petrol by Rs2.41 per liter.
According to the Ministry of Finance, new price of petrol will be Rs92.83 per liter.
The High Speed Diesel price has also been decreased by Rs6.35 per liter, whereas, the prices of kerosene oil and light diesel oil has also been reduced by 46 paisas and 60 paisas respectively.
So the new price of HSD will be Rs106.57 per liter, SKO Rs83.50 per liter and LDO Rs75.96 per liter.
On the recommendations of Oil & Gas Regulatory Authority (OGRA), the prime minister of Pakistan has approved the following changes in the prices of petroleum products.
The new prices will be effective from September 1, 2018 till midnight on September 30, 2018.
Earlier on Thursday, the Oil & Gas Regulatory Authority (OGRA) had submitted a summary to the petroleum division recommending that the petrol prices should be decreased by at least Rs2 per liter starting from September 1.
The regulatory authority had forwarded a summary to the petroleum division suggesting a cut of at least Rs2 in the oil prices.
The summary also refers to other petroleum products whose prices should be decreased under monthly readjustment formula.
It was recommended that the rate of diesel be decreased by Rs6 per liter and kerosene oil Rs30 paisa per liter, while the rate of light diesel price proposed to be increased by 70 paisa per liter.