Daily Times

The federal government on Wednesday reduced the petrol price by Rs6.17 per litre for the next fortnight after a drop in oil rates in the global markets, according to a statement issued by the PM Office.

The new prices will be effective from August 1.

The Oil and Gas Regulatory Authority (Ogra) worked out the consumer prices for the upcoming fortnight, based on the international prices and exchange rate variations, the notification read.

After Prime Minister Shehbaz Sharif’s approval, the petrol price came down to Rs272.77 from Rs283.63 per litre with a reduction of Rs6.17.

The new price of high-speed diesel (HSD) will be Rs269.43 from the existing rate of Rs275.60 per litre following a reduction of Rs10.86.

Similarly, the kerosene oil price fell to Rs177.39 from Rs183.71 per litre after a reduction of Rs6.32 per litre, while the light diesel oil (LDO) rate was decreased to Rs160.53 per litre against the current rate of Rs166.25 per litre following a cut of Rs5.72 per litre.

Separately, the Oil and Gas Regulatory Authority (OGRA) on Wednesday notified a reduction in price of Liquefied Natural Gas (LNG) by 8.50 per cent while increasing the rate of Liquefied Petroleum Gas (LPG).

According to a notification, the regulatory authority announced reduction in the price of Liquefied Natural Gas (LNG) by 8.50pc for August.

The notification revealed that the LNG price for Sui Northern Gas Pipelines Limited (SNGPL) has been reduced by $1.23 per MMBTU, setting the new price at $13.39 per MMBTU.

Similarly, the price of LNG for Sui Southern Gas Company Limited (SSGC) has been reduced by $1.22 per MMBTU, making the new price $13.15 per MMBTU.

OGRA increased the price of Liquefied Petroleum Gas (LPG) by Rs2.27 per kilogram. The new price of LPG has been set at Rs 236.99 per kilogram.

Additionally, the price of LPG for domestic cylinders has been increased by Rs26.90, making the new price Rs2796.56 per cylinder.

DISCOs directed to extend last date for payment of bills

On the direction of Prime Minister Shehbaz Sharif, Power Division on Wednesday directed all power distribution companies (DISCOs) to extend last date by 10 days for payment of electricity bills. Ten days extension would be given to the consumer for payment of their electricity bills for the month of July and August, said a statement issued by the Power Division.

It is pertinent to mention here that the prime minister has issued the directions keeping in view the problems faced by the consumers.