June 01, 2024 (MLN): The Oil and Gas Regulatory Authority (OGRA) has decided to reduce the price of petrol by Rs4.74 to Rs268.36 per litre, according to its website.
Earlier, Prime Minister Shehbaz Sharif had directed OGRA to cut the price by Rs15.4 per litre.
The decline is third in a row, taking the cumulative relief to Rs25.6 per litre.
Moreover, according to a notification issued by the Finance Division, the price of High-Speed Diesel (HSD) has been slashed by Rs3.86 to Rs270.22 per litre.
The new prices will remain in effect for the first half of June 2024, and are on the recommendations of OGRA based on the price variations in the international market.
The prices of petroleum products have seen a decreasing trend in the international market during the last fortnight, OGRA said.
To recall, in the last fortnight, the government slashed the price of petrol by Rs15.39 to Rs273.10 per litre.
Similarly, the price of High-Speed Diesel (HSD) was reduced by Rs7.88 to Rs274.08 per litre.
