POL prices reduced by Rs 8.46 per liter
The new prices will go into affect at midnight.
ISLAMABAD (Web Desk): The caretaker government has provided a major relief to the price-stricken masses of the country ahead of elections as price of petroleum products have reduced by Rs 8.46 per liter that will be effective from May 01.
According to a notification issued here on Tuesday, the price of Motor Spirit (MS) used in transportation has been reduced by Rs 4.71 per liter from Rs 102.30 and new price of petrol will be Rs 97.59 per liter.
Since petrol is an alternate to ‘scarce’ compress natural gas (CNG), consumers in some parts of the country, especially Punjab, have become dependent on petrol. The reduction in petrol prices will provide relief to motorists who are suffering due to CNG suspensions.
Price of High Speed Diesel (HSD) used in agriculture sector, transport and electricity generators witnessed nominal decrease of Rs 2.53 per liter and new price will be Rs 106.06 against oil price of Rs 108.59 per liter.
The reduction may provide a relief to the agriculture sector and reduction in inflation across the country.
Notification regarding new prices revealed that price of High Octane blended Component (HOBC) has been reduced by Rs 8.46 per liter. New price of HOBC will be Rs 123.57 as against of Rs 132.03 per liter.
The price of Light Diesel Oil (LDO), which is mainly used by industries, may witness a cut of Rs 4.22 per litre, bringing the price down to Rs 89.06 per litre against the current rate of Rs93.28 per liter.
The price of kerosene oil had has been dropped to Rs 4.09 per liter to 94.17 per litre against Rs 98.26 per liter presently. Kerosene is used for cooking in remote areas where liquefied petroleum gas (LPG) is not available.
Prices of jet fuels, JP-1 reduced by Rs5.21 per litre from Rs88.65 per liter to Rs 83.44 per litre and JP-8 slashed by Rs 5.21 and new price will be Rs 83.11 per liter as against 88.32.
