ISLAMABAD: The government on Monday has reduced petroleum product prices for the month of May 2020.
According to the notification issued on Thursday, the petrol price has been slashed by Rs15 per liter, whereas the price of High-Speed Diesel has also been decreased by Rs27.15 per liter.
The prices of kerosene oil and light diesel oil have also been reduced by Rs30 and Rs15 respectively.
So the new price of HSD will be Rs80.10 per liter, SKO Rs47.44 per liter, and LDO Rs47.51per liter.
The new price of petrol will be Rs81.58 per liter.
On Wednesday, Oil & Gas Regulatory Authority (OGRA) submitted a summary to the petroleum division recommending that the prices of petroleum products should be decreased by up to Rs44.07 per liter starting from May 1.
According to sources, the regulatory authority forwarded a summary to the petroleum division suggesting a cut of at least Rs20.68 in the petrol price.
The summary also recommended reducing the high-speed diesel by Rs33.94 per liter and kerosene oil by Rs44.07 per liter.
The Ministry for Finance will consider the recommendations of the OGRA on Saturday, and make its decision accordingly.
On Tuesday, Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh said that the cost of energy and travel will decrease with the reduced oil prices in the international market and the government will pass on the benefit of reduced oil prices to the public.
