Government has further reduced the prices of petrol by Rs 7 per liter for the month of June 2020. According to Prime Minister Imran Khan, Pakistan now has the cheapest fuel cost compared to other countries in the South Asian region. The official tweet reads:
We have further reduced petrol, light diesel oil, kerosine oil prices. Now we have the cheapest fuel cost compared to other states in South Asia. India is almost exactly double. Bangladesh, Sri Lanka & Nepal are all 50 to 75 percent more expensive than us. pic.twitter.com/oD9wVMcZno
— Imran Khan (@ImranKhanPTI) May 31, 2020
According to notification, the petrol prices have been reduced from Rs 81.58 per liter to Rs 74.52 per liter, likewise the prices of Kerosene Oil have been reduced from Rs 47.44 per liter to Rs 35.56 per liter whereas the prices of Light Diesel Oil were reduced from Rs 47.51 per liter to Rs 38.14 per liter.
However, the prices of High-Speed Diesel witnessed a nominal increase of Rs 0.05 as it went up from Rs 80.10 per liter to Rs80.15 per liter. Despite the global trend of increasing prices of petroleum products, the government has decided to extend further relief in petroleum prices to the public, the official statement added. The new prices will be applicable from the 1st of June 2020.
Earlier the Oil and Gas Regulatory Authority (OGRA) had recommended a reduction in petrol price by Rs 7.06/liter, kerosene Rs 11.88/liter and light diesel oil (LDO) price by Rs 9.37/liter for June. However the regulatory body had suggested that the price of diesel should remain unchanged.