Petrol price cut by Rs 9, diesel by Rs 4

1-Dec-2008

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) Sunday evening announced Rs 9 to Rs 13.5 per litre reduction in petroleum products with immediate effect. This is the third relief measure in real terms since November, fixing petrol price at Rs 57.66 per litre, diesel at Rs 48 per litre, HOBC at Rs 72.08 and kerosene oil at Rs 51.87.

The decision of decreasing petrol prices by Rs 9 per litre, kerosene oil by Rs 5 and high-speed diesel by Rs 4 will be applied with immediate effect. Prices of High Octane Blendin Component (HOBC) have also been reduced by Rs9 per litre. Likewise, the prices of Light Diesel Oil (LDO) have also been reduced by Rs5 per litre. The new prices of High Speed Diesel (HSD) after reduction of Rs4 per litre will be notified by the respective oil marketing companies.

The government had reduced the POL prices on November 15 and November 1 earlier this month. Experts say it will help reduce inflation in the country for which the Sate Bank had also increased the discount rate to 15 per cent.
Courtesy:The News

Source: PETROLEUM BAZAAR