Pakistan reduces petroleum prices

July 1st, 2011 - 12:27 pm ICT by IANS  

Islamabad, July 1 (IANS) Pakistan has brought down petroleum prices. The price of petrol has been reduced by Rs.3 per litre, diesel by Rs.2.01 and light speed diesel by Rs.1.13, media reports said.

The Oil and Gas Regulatory Authority Thursday announced reduction in the prices of petroleum products, reported the Associated Press of Pakistan.

There is, however, no change in the price of kerosene.

The new price of petrol is Rs.83.71 per litre while high speed diesel is now priced at Rs.92.10 per litre. Light diesel is for Rs.81.39 per litre.

Kerosene continues to cost Rs.84.65 per litre.

The move came on a day when neighbour India hiked petrol and diesel prices by 27 paise and 15 paise per litre respectively from Thursday midnight to to increase the commission of petrol pump dealers.

In the Indian capital Delhi, petrol will cost Rs.63.64 per litre from Friday, while diesel will be Rs.41.27 per litre. The government has increased dealers’ commission to Rs.1,499 per kilolitre of petrol and Rs.912 per kilolitre of diesel.

While Indian oil marketing companies had steeply hiked the price of petrol in May, the diesel price was raised last week by Rs.3 per litre.

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