After multiple petrol price hikes, the government is finally decreasing oil prices next month.
Federal Minister for Power, Petroleum & Natural Resources, Omar Ayub Khan announced this on Twitter.
He shared a press release from the Oil and Gas Regulatory Authority (OGRA) showing that the petrol prices in other regional countries like India, Bangladesh, and Sri Lanka are much higher as compared to Pakistan.
Omar said that petrol prices will go down by Rs. 4.59 next month. The revised price will be Rs. 113.24 per liter for September. Price of light diesel has also gone down by Rs. 5.63 to Rs. 91.89 per liter.
Similarly, high-speed diesel will be sold at Rs. 127.14 with a reduction of Rs. 5.33, while Kerosene oil’s new price will be Rs. 99.57.
The minister said the decision to reduce oil prices was taken due to declining prices in the global market.
He added that Prime Minister Imran Khan was aware of the hardships faced by the masses, hence, he has decided to pass on the benefit of reduced oil prices to the general public.
The new prices will be effective from tomorrow.