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POL prices to be slashed by up to Rs7.67 per litre.

ISLAMABAD -- The prices of petroleum products are scheduled to be slashed effective September 1, with per litre petrol to be Rs4.59 less costly.

The prices of high-speed diesel, kerosene oil, and light diesel would be lowered by Rs7.67, Rs4.27, and Rs5.63 per litre, respectively.

Light diesel oil is mainly used for industrial purposes whereas kerosene oil is consumed in remote areas for cooking purposes where liquefied petroleum gas (LPG) is not readily available.

The new respective per-litre prices of petrol, high-speed diesel, kerosene oil, and light diesel would be Rs113.24, Rs124.80, Rs99.57, and Rs91.89.

In this regard, PM's Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan said in a tweet that the benefit of lowered global oil prices would be directly offered to the people.

The second year of 'Naya Pakistan' would bring good news for the people, she added.

Terming it a practical step, Dr Awan further said on Twitter: 'Instead of taking the price-cut gain for itself, the people-friendly government will directly pass the benefit of lowered oil prices in the global market to provide relief to the people.'

According to sources, OGRA has already completed its consultations with the oil marketing companies regarding future oil prices, sources said, adding that oil prices could further reduce if the finance ministry decreases the rates of levies and taxes imposed on petroleum products.

In the month of August, petrol was sold at Rs117.83 per litre, high-speed diesel (HSD) at Rs132.47, light-diesel oil at Rs97.52 and kerosene oil at Rs103.84 per litre.

It is pertinent to mention that reduction in oil prices would provide much-needed relief to the masses who are already struggling to make ends meet amidst rising inflation. The reduction in POL prices would also help decrease the prices of several daily use items as well as transportation.

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Publication:Pakistan Today (Lahore, Pakistan)
Date:Aug 30, 2019
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