The Government Has Slashed The Prices Of Petroleum Products For The Next 15 Days.
In this regard, according to the notification issued by the Ministry of Finance, the price of petrol and high speed diesel has been reduced by Rs. 5 per liter.
The new price of petrol has gone up to Rs 140.82 while the new price of high speed diesel has gone up to Rs 137.62.
According to the notification, the price of light diesel and kerosene has been reduced by Rs 7 per liter.
It may be recalled that OGRA had yesterday sent a summary of three proposals regarding prices of petroleum products. The authority had proposed a reduction of Rs 8 to 10 per liter in the prices of petroleum products.
According to OGRA sources, in case of increase in levy tax, it can be reduced up to Rs 4 per liter while in case of doubling of tax, prices can be maintained.
According to OGRA sources, the prices of petroleum products in the world market stood at 74 Dollars per barrel.
The government has bought oil at 68-74 Dollars a barrel in the last 13 days. The proportion of the world market leads to a decrease in prices.