Kerosene oil price slashed by Rs48.29 per litre

Oil and Gas Regulatory Authority (OGRA) has issued a notification regarding a massive reduction in the price of kerosene oil by Rs28.29 per litre, reported 24NewsHD TV channel on Saturday.

After the decrease, kerosene oil is now being sold at Rs233.90 per litre. Before this, kerosene oil was available at Rs282.19 per liter.

Earlier on Friday, Prime Minister Muhammad Shehbaz Sharif announced a major reduction in petroleum prices, saying the benefits of improved regional economic conditions and lower global oil prices were being passed on immediately to the public following the restoration of peace through Pakistan's mediation efforts.

In a statement, the prime minister said the price of petrol was being reduced by Rs74 per litre and the price of high-speed diesel by Rs67 per litre.

He said the reduction would bring the price of petrol down from Rs373 per litre to Rs299 per litre, while the price of diesel would decrease from Rs378 per litre to Rs311 per litre.

The prime minister said he was fulfilling a promise made to the nation and thanked Allah for making it possible.

Reporter: Awais Kiyani