The government reduced the prices of petrol and diesel by Rs. 5 per liter.
The government has announced a reduction in prices of petroleum products by up to Rs 7 per liter.
According to the notification issued by the Petroleum Division, petrol was reduced by Rs 5 per liter to Rs 140.82 while high speed diesel became cheaper by Rs 5 to Rs 137.62 per liter.
According to the notification, kerosene has also been reduced by Rs 7 per liter, the new rates will be Rs 109.53 while light diesel will also be available at Rs 107.06 per liter with a reduction of Rs 7.
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According to the Petroleum Division, the new prices will be applicable from 12 noon tonight for the next 15 days till December 31.
According to sources, OGRA has proposed a reduction in the price of petrol by Rs 11 and diesel by Rs 9 per liter. Don’t tell
Earlier, OGRA had on November 30 proposed a reduction of about Rs 7-8 per liter in the prices of petroleum products but the Finance Ministry had decided to keep the prices low.
Also read: Abolition of sales tax rate on petrol
Global crude oil prices reached 84 84 in the last week of October, with a gradual decline in December and now global crude oil prices are between 70 70 and 75 75 a barrel.
JPMorgan predicts that global oil prices will reach 125 125 a barrel in 2022 and 150 150 a barrel in 2023.