ISLAMABAD– Minister for Finance and Revenue Senator Ishaq Dar Thursday announced that the price of petrol has been decreased by Rs10 to Rs214.80 per litre for the next fortnight — effective from December 16.
In a video address, the finance minister said the price reduction was made in line with Prime Minister Shehbaz Sharif’s aspirations of “providing maximum” relief to the masses.
As a result of the revised rates of petroleum products, diesel will now be available at Rs214.80 after a reduction of Rs7.5. The price of kerosene oil and light diesel oil have also been slashed to Rs171.83 and Rs169, respectively.
| Commodity | Existing prices w.e.f 1.12.2022 |
New prices w.e.f 16.12.2022 |
Increase/Decrease (in rupees) |
| Petrol | Rs224.80 | Rs214.80 | -10.00 |
| Diesel | Rs235.30 | Rs227.80 | -7.50 |
| Kerosene oil | Rs181.83 | Rs171.83 | -10.00 |
| Light diesel oil | Rs179 | Rs169 | -10.00 |
It should be noted that on November 30, while the government kept the price of petrol and diesel unchanged it slashed the price of kerosene oil and light diesel oil by Rs10 per litre and Rs7.5 per litre, respectively.
The finance czar mentioned that since the start of the ongoing quarter (October- December) of the fiscal year 2022-23, the prices have cumulatively declined by:
The decline comes amid a drop in international oil prices. As of December 15, Brent crude futures were down 33 cents or 0.4% at $82.37 a barrel by 1453 GMT and US crude futures lost 43 cents or 0.6% to $76.85.
SOURCE: GEO NEWS
