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Govt announces minor cut in petrol price

The new prices will be applicable from midnight and remain valid for the next fortnight.

The federal government announced a minor cut in petroleum product prices late Friday night for the first fifteen days of June.

The new prices will be applicable from midnight and remain valid for the next fortnight.

At first, news broke that Prime Minister Shehbaz Sharif directed the Ministry of Finance to reduce the price of petrol by Rs15.4 and high-speed diesel (HSD) by Rs7.9 per litre.

However, that was by mistake! After creating a hype of 15 rupees, the petrol price has been reduced by Rs4.74 per litre in the third consecutive review.

The new price of petrol has come down to Rs268.36 per litre from Rs273.10/lit.

Meanwhile, the high-speed diesel also has been slashed by Rs3.86 per litre to Rs270.22/lit from its previous price of Rs274.08/lit. 

“The prices of Petroleum products have seen a decreasing trend in the international market during the last fortnight, states a notification from the finance ministry.

“The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market.”

 

On May 15, the government announced a reduction in petrol and HSD prices for a fortnight by Rs15.39 per litre and Rs7.88 per litre, respectively.

Saman Siddiqui

I am a freelance journalist, holding a Master’s Degree in Mass Communication and an MS in Peace and Conflict Studies, associated with the electronic media industry since 2006 in various capacities. Here at OyeYeah, I cover a range of genres, from journalism to fiction to fashion, including reviews, and fact findings. 

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