Govt may cut fuel prices by Rs10 per litre

The Financial Daily - - FRONT PAGE -

ISLAMABAD: Pak­istani con­sumers should ex­pect a hefty cut in fuel prices fol­low­ing a sharp de­cline in the value of Brent crude, which plunged to a new low on Thurs­day.

A de­crease of up to Rs10 per litre is likely to come into ef­fect next month.

Ear­lier this month, the govern­ment slashed fuel prices by up to Rs14.68 per litre af­ter crude prices dipped in the in­ter­na­tional mar­ket.

With a glut of crude oil com­ing out of the US shale reser­voirs, crude prices, which dropped to $77.75 per bar­rel on Thurs­day, have pro­vided enough breath­ing space for the govern­ment to re­duce fuel prices in the coun­try.

Com­ment­ing on the global trend, govern­ment of­fi­cials said that do­mes­tic oil prices were likely to come down by Rs10 per litre for the month of De­cem­ber.

How­ever, they said, the fi­nal cal­cu­la­tion is to be made by the Oil and Gas Reg­u­la­tory Au­thor­ity (Ogra) on Fri­day (to­day).

Fol­low­ing the ex­pected cuts next month, the price of High Speed Diesel (HSD), which is widely used in heavy trans­port ve­hi­cles and the agri­cul­ture sec­tor, is likely to come down by Rs6 per litre. Cur­rently, it is sold at Rs101.21 per litre.

Sim­i­larly, the price of petrol could wit­ness a cut of Rs9 per litre against its cur­rent price of Rs94.19 per litre. Kerosene oil, which is used as kitchen fuel in re­mote ar­eas of the coun­try, may record a de­crease of Rs4 per litre. Its cur­rent price is Rs87.52 per litre.

Like­wise, con­sumers of High Oc­tane Blend­ing Com­po­nent

See # 5 Page 7

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.