Govt likely to cut petrol price on New Year’s Eve

There are chances of a slight reduction in petrol price for the first 15 days of the new year, starting from January 1.

Reports suggest a potential decrease of Rs1.72 per litre in petrol price, while high-speed diesel might see an increase of one rupee per litre.

The finance ministry will decide on the proposed summary by OGRA after consulting with the caretaker prime minister.

Prime Minister Anwar-ul-Haq Kakar-led interim government has slashed the prices of petroleum products by over Rs60 in the last three months.

According to a statement issued by the Petroleum division, the price of petrol saw a decline of Rs64.4 per litre from September 16 to December 16, while the price of diesel decreased by Rs52.99 per litre in the same period.

In September, the price of petrol was Rs 331.38 per litre, which now stands at Rs267.34 per litre.

The price of diesel was at Rs329.18 per litre in September, which has now been reduced to Rs276.19 per litre.

Furthermore, the finance ministry, on December 15, slashed the prices of petrol and diesel by Rs14 and Rs13.50 per litre, respectively.