The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in petrol prices by Rs4.74, bringing the new price to Rs268.36 per litre. This decision, reflected on OGRA’s website, follows the directive from Prime Minister Shehbaz Sharif to cut petrol prices by up to Rs15.4 per litre.
The Ministry of Finance has issued a notification regarding the reduction in the prices of petroleum products. The price of petrol has been reduced by Rs 4.74 while the price of high speed diesel has been reduced by Rs 3.86. In the earlier statement, figures were released regarding the reduction in the price of petrol by 15.4 rupees and the price of diesel by 7.9 rupees, in which the reduction in the prices of the previous month was reported. The notification will be issued shortly after the clarification by the Finance Ministry
This marks the third consecutive reduction in petrol prices, building on the Rs15.39 cut implemented in the previous fortnight. The new prices will be effective for the first half of June 2024 and are based on OGRA’s recommendations.
Key Points:
- New Petrol Price: Rs268.36 per litre (reduced by Rs4.74).
- Prime Minister’s Directive: Cut petrol prices by up to Rs15.4 per litre.
- Recent Reductions: This is the third consecutive cut, following a Rs15.39 reduction in the previous fortnight.
- Effective Period: First half of June 2024.
These adjustments aim to alleviate the financial burden on consumers amid high inflation, reflecting the government’s commitment to providing economic relief.
