Diesel price to fall by over Rs30 per litre after refinery talks

The government has announced that the price of high-speed diesel will be reduced by more than Rs30 per litre after local oil refineries agreed to provide relief to consumers.

Petroleum Minister Ali Pervaiz Malik said on Wednesday that refineries had agreed to reduce the diesel price by Rs30-32 per litre following consultations with the government.

“Oil refineries, responding to the government’s request, have decided to provide relief of Rs30-32 per litre,” Malik said at a press conference in Islamabad alongside Information Minister Attaullah Tarar.

He said the Oil and Gas Regulatory Authority (OGRA) would announce its calculations and the revised diesel price shortly.

The announcement came hours after Prime Minister Shehbaz Sharif directed the petroleum minister to hold talks with local refineries in Karachi to secure a reduction in diesel prices and pass the benefit on to consumers.

Malik said the government was aware of the difficulties faced by the public and was taking steps to provide relief. He added that the government would ensure that the reduction offered by refineries was passed on to consumers.