In a positive development, the caretaker government has decided to lower the price of petrol by Rs8 per liter to Rs259.34 per liter for the next two weeks starting from January 16. This decision follows the recommendations of the Oil and Gas Regulatory Authority (OGRA) and has been announced by the Finance Division.
It’s worth noting that the diesel rate will remain unchanged at Rs276.21 per liter. Additionally, there is a decrease in the rates of kerosene oil and light diesel oil by Rs1.97 and Rs0.92 per liter, respectively, in this latest revision.
Earlier reports on Sunday suggested that the petrol price might see a reduction of over Rs5, while the high-speed diesel (HSD) rate is expected to remain stable in the upcoming fuel price review. This information was sourced from insiders, indicating that the caretaker government might decrease the petrol price by Rs5.32 per liter starting January 16. However, no adjustments were anticipated for HSD prices due to the decline in international prices of petrol, oil, and lubricants (POL) during this fortnight, coupled with the strengthening of the rupee against the US dollar, according to a senior government official.
In the preceding two weeks, the government had maintained petrol and diesel rates at Rs267.34 and Rs276.21 per liter, respectively. The price of kerosene oil had decreased to Rs188.83 after a reduction of Rs2.19 per liter, while the price of light diesel oil had increased to Rs165.75 due to a rise of Rs1.11.