“Finance Minister Ishaq Dar Announces Significant Reduction in Gasoline and Diesel Prices”
Ishaq Dar. The finance minister, declared on Thursday that the price of gasoline and diesel would each be reduced by Rs10.
He stated in a televised speech: “At this time, the prime minister wants us to pass the greatest amount of relief to the public, and we have been doing so since October 30.
“After midnight, the price of gasoline will drop by Rs10 to Rs214.8, according to our calculations. High-speed diesel will now cost Rs227.80 instead of Rs7.5, he said.
Petroleum Products Prices:
— Ishaq Dar (@MIshaqDar50) December 15, 2022
Dec16 to Dec31, 2022:
High Speed Diesel-with Rs 7.50 reduction,Rs 227.80 per litre
MS Petrol —with Rs 10 reduction,Rs 214.80 per litre
Kerosene Oil – with Rs 10 reduction,Rs 171.83 per litre
Light Diesel Oil – with Rs 10 reduction, Rs 169 per litre
Ishaq Dar reported that the price of kerosene oil has decreased by Rs 10 to Rs 171.38 and that the cost of light diesel oil has decreased by Rs 10 to Rs 169 per litre.
This evening at midnight, the price reduction will take effect.
On Oct. 15, Oct. 30, and Nov. 15, the government had previously held the pricing of all petroleum products constant.
Kerosene oil’s price was dropped by Rs 10 earlier on Nov 30 while light diesel oil’s price was decreased by Rs 7.5 per litre.
The Ministry of Finance will get a summary from the Oil and Gas Regulator Authority (OGRA), which had also begun working on the updated petroleum pricing.
The national oil and gas regulator is reportedly planning to propose raising the general sales tax. Which is currently nil; the levy on gasoline prices is already at Rs. 50 in accordance with IMF standards.
After consulting with Prime Minister Shehbaz Sharif today, the ministry will make a final decision.
