Oil price reduced by Rs 21.34 per liter

ISLAMABAD: Giving some relief to the public from the pressure of inflation, the price of kerosene has been reduced by Rs 21.34 per liter. OGRA has issued an official notification in this regard.

According to the notification, the new price of kerosene has been fixed at Rs 428.81 per liter. After this price reduction, partial happiness is being seen among the citizens, however, overall the problems of the people due to inflation still persist.

It should be noted that yesterday the government had announced the new prices of petroleum products, according to which the price of diesel was reduced by Rs 32.12 per liter.

The price of diesel was reduced from Rs 385.54 to Rs 353.42 per liter, while the price of petrol was maintained at Rs 366.58 per liter.

Prime Minister Shahbaz Sharif had approved a reduction in the price of diesel, however, citizens are complaining that despite diesel being cheaper, transport fares have not been reduced, and the price of petrol should also be reduced further.

On the other hand, a clear decline in crude oil prices has been recorded in the global market. After a more than 12 percent drop in the price of Brent crude oil, it has come down to $86 per barrel, while a significant decline has also been seen in US crude oil.

Economists say that after the decline in prices at the global level, petrol and diesel are likely to become cheaper in Pakistan in the coming days, which may provide further relief to the public.