Govt cuts petrol price by Rs15.4 per litre

May 15, 2024 (MLN): The federal government has reduced the price of petrol by a significant Rs15.39 per litre to Rs273.1, providing a major relief to the masses grappling with Asia's highest inflation.

The decline is on top of the Rs5.45 cut from the last fortnight.

Moreover, according to a notification issued by the Finance Division, the price of High-Speed Diesel (HSD) has been slashed by Rs7.88 to Rs274.08 per litre.

The new prices will remain in effect for the second half of May 2024 and are based on the recommendations of the Oil and Gas Regulatory Authority (OGRA).

OGRA has worked out the consumer prices, based on the price variations in the international market. 

On Monday, Mettis Global News reported that the price of petrol was expected to be reduced by around Rs13 per litre owing to significant decline in international prices.

To recall, in the last fortnight, the government slashed the price of petrol by Rs5.45 to Rs288.49 per litre.

Similarly, the price of High-Speed Diesel (HSD) was reduced by Rs8.42 to Rs281.96 per litre.

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