Staff Reporter
Islamabad
The federal government on Saturday reduced the prices of petroleum products which will take effect from December 1, 2019 according to the ministry of finance.
The finance ministry said that the price of petrol has been reduced by Rs 0.25 per litre, high speed diesel by Rs2.40 per litre, kerosene oil by Rs 0.83 per litre, and light diesel oil by Rs2.90 per litre.
The decision was made keeping in view recommendations made by the Oil & Gas Regulatory Authority.
The new per litre prices of these products have been fixed at: petrol Rs 113.99, high speed diesel Rs125.01, kerosene oil Rs96.35, and light diesel oil Rs82.43.
Petrol and HSD are the products that generate much of the revenue for the government due to their massive and yet growing consumption in the country. About 800,000 tonnes of HSD are sold every month in the country against a monthly consumption of around 700,000 tonnes of petrol. The sales of kerosene oil and LDO are generally less than 10,000 tonnes per month.
