Petrol prices likely to fall by over Rs5 per litre


The Oil and Gas Regulatory Authority (OGRA) is considering a significant reduction in the prices of petroleum products, with a proposal to decrease prices by Rs5 per litre.

This reduction is anticipated to apply to both petrol and diesel, potentially making them more affordable for consumers across the country.

The slash in prices could potentially bring relief to consumers grappling with escalating fuel costs. If the proposal is approved, petrol is expected to become cheaper by Rs5 per litre, while diesel prices could see a reduction of Rs4 per litre.

OGRA is set to send the summary of proposed price adjustments to the Petroleum Division on May 31. Subsequently, the Ministry of Finance and the prime minister will take a final decision and issue an official notification.

The new prices would take effect on June 1, for the first two weeks of the month.

On May 1, the government announced a massive reduction in the prices of petroleum products. According to a notification, the prime minister approved a decrease of Rs5.45 per litre in the price of petrol, while the price of diesel was reduced by Rs8.42 per litre.

According to the Finance Ministry, the new price of petrol is Rs288.49 per litre and Rs281.96 per litre for HSD.

Source link

Related Posts

Elon Musk’s wrecking ball

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world What is a good way of reducing plane…

Read more

European countries clash over sending troops to Ukraine

European countries clashed over sending troops to Ukraine at a crisis meeting intended to reach a consensus on how to respond to US President Donald Trump’s peace talks with Russia….

Read more

UK Supreme Court rejects chancellor’s attempt to intervene in car finance litigation

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Banks’ hopes of being shielded from a multibillion-pound mis-selling scandal…

Read more

Trump’s reckless experiment with financial deregulation

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two years ago, the US was on the brink of…

Read more

Zelenskyy ‘will not recognise’ US-Russia talks that exclude Ukraine

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Senior US and Russian officials will meet in…

Read more

Trump administration pressures Romania to lift restrictions on Andrew Tate

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The Trump administration has pressured Romanian authorities to…

Read more

Leave a Reply