Petrol price cut by Rs1.71; new rate set at Rs100.69 per litre

ISLAMABAD: The federal government announced a reduction in petroleum prices on Sunday, lowering the per-litre price of petrol to Rs100.69.

The Ministry of Finance confirmed the change through an official notification. Petrol and high-speed diesel (HSD) prices fell by Rs1.71 and Rs1.79 per litre, respectively. The new prices now stand at Rs100.69 for petrol and Rs101.43 for HSD.

Kerosene oil and light diesel oil (LDO) prices remained unchanged at Rs65.29 and Rs62.86 per litre, respectively.

The new prices took effect on November 16, 2020.

The appreciation of the rupee against the US dollar earlier in the month had signaled a possible drop in fuel prices. This raised public expectations for some relief from inflation.

Sources told The News that Ogra’s internal pricing model had shown room for a cut of Rs3.40 per litre in petrol and Rs2.50 in diesel.

Earlier in the month, the government had reduced petrol by Rs1.57 and diesel by Rs0.84 per litre for the first half of November. Kerosene and LDO prices had remained unchanged at that time as well.

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