In a welcome move for the inflation-burdened public, the caretaker government has announced a significant reduction of Rs8 per litre in the price of petrol. The Finance Division issued a notification regarding the new prices of petroleum products for the upcoming fortnight, effective from January 16, 2024, based on recommendations from the Oil and Gas Regulatory Authority (Ogra).
Following this reduction, the revised price for petrol now stands at Rs259.34 per litre, compared to the previous rate of Rs267.34 per litre. This adjustment aims to alleviate the financial burden on consumers grappling with the rising cost of living.
In contrast, the government has opted to maintain the price of high-speed diesel at Rs276.21 per litre, keeping it unchanged. Additionally, the rates for light diesel and kerosene oil have also witnessed reductions, with the latter experiencing a decrease of Rs1.97 per litre.
During the preceding fortnight, the government had maintained the prices of petrol and diesel at Rs267.34 and Rs276.21 per litre, respectively. Kerosene oil had witnessed a reduction of Rs2.19 per litre, bringing its price to Rs188.83, while Light Diesel Oil was priced at Rs165.75 after a government-induced increase of Rs1.11.
