ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced a significant reduction in the prices of light diesel and kerosene.
An official notification of the new prices was also issued, after which consumers are expected to get some relief in terms of fuel.
According to the notification issued, the price of light diesel has been reduced by Rs 30.61 per liter. After this significant reduction, the new price of light diesel has been set at Rs 244.93 per liter. Similarly, the price of kerosene has also been reduced by Rs 41.44 per liter, after which the new price of kerosene has been set at Rs 272 per liter.
According to energy experts, the price reduction will benefit consumers in rural areas, where kerosene is used for domestic and other needs, while the reduction in the price of light diesel can also have positive effects on the agricultural and industrial sectors.
According to sources, the government has increased the rate of petroleum levy on light diesel, the levy has been increased by Rs 10.93 per liter to Rs 68.93 per liter, while the rate of petroleum levy on kerosene has been maintained at Rs 20.36 per liter.
Economic experts say that due to fluctuations in oil prices in the global market, further changes in fuel prices may be seen in the future, however, for now this reduction will bring some relief to the public.
