ISLAMABAD: On Wednesday, the federal government announced a substantial reduction in petroleum prices for the first half of August 2024. The new rates, which take effect from August 1, 2024, were approved by Prime Minister Shehbaz Sharif, according to a notification from the Ministry of Finance.
Petrol prices have been cut by Rs6.17 per litre, bringing the new price to Rs269.43. High-speed diesel has also seen a decrease, with its price reduced by Rs10.86 to Rs272.77 per litre. Light-speed diesel prices are down by Rs5.72, now at Rs160.53 per litre. Additionally, kerosene oil prices have dropped by Rs6.32, setting the new rate at Rs177.39 per litre for the first half of August.
In contrast, earlier on Wednesday, the Oil and Gas Regulatory Authority (Ogra) announced an increase in the price of liquefied petroleum gas (LPG) for August 2024. According to Ogra’s notification, the LPG price has been raised by Rs2.72 per kilogram, bringing the new rate to Rs236.99 per kg starting August 1.
The price of a domestic LPG cylinder (11.8 kg) has been adjusted upwards by Rs26.90, now priced at Rs2,796.56. This is an increase from July’s price of Rs2,769.66 for the same cylinder.
