Government of Pakistan has reduced oil prices by Rs. 9 and diesel by Rs. 4 per liter with immediate effect.Petrol Prices Reduced

Oil and Gas Regulatory Authority (OGRA) has issued a notice to decrease the prices of petrol by Rs. 9, diesel by Rs. 4, kerosene oil by Rs. 5, high sped diesel by Rs. 4 and High Octane Blendin Component (HOBC) by Rs. 9 per liter. These new rates will be effective from December 1, 2008. Prices of petrol have been decreased from Rs. 66.66 to Rs. 57.66.

Adviser to Prime Minister on Finance, Shaukat Tareen said that the benefit of reduction in prices would be passed on to the consumers. Analysts say that this step will help to reduce the inflation in the country.