Federal Government has reduced the prices of petroleum products

 ISLAMABAD: The prices of petroleum products were reduced by the federal government on Sunday, according to a notification issued by the Finance Ministry, a liter of petrol was reduced to Rs 100.69.

Petrol and High-Speed ​​Diesel (HSD) prices were reduced by Rs 1.71 and Rs 1.79 per liter, respectively, the notification said.

The new prices of high-speed diesel and petrol were Rs 101.43 and Rs 100.69 respectively per liter. Whereas, light diesel oil and kerosene were at Rs 62.85 and 65.29 respectively per liter. The new prices have taken effect on November 16, 2020.

The News had earlier reported that the rupee's depreciation against the US dollar could lead to a fall in petrol and diesel prices in the second half of November so that the public can breathe a sigh of relief in the face of rising prices.

Sources told The News that the Oil and Gas Regulatory Authority (OGRA) operates with a cut of Rs 3.40 per liter and Rs 2.5 per liter for petrol and diesel.

The federal government had reduced the price of petrol by Rs1.57 and diesel by Rs 0.84 in the first fortnight of this month. However, there was no change in the prices of kerosene and light diesel oil (LDO).