Petroleum Prices down; Govt. finally decides to give relief to the people

Petroleum Prices down; Govt. finally decides to give relief to the people

Islamabad: (Thursday, May 31, 2012) In order to show a good gesture just ahead of the federal budget, the government has decided to bring the oil prices down significantly.

Although this decline in prices has been mainly attributed to the decrease in petroleum prices in international market, yet, the PPP led ruling alliance has made it appear in a way as if it is being considerate to the inflation
hit people of the country.

According to the notice issued by the Oil and Gas Regulatory Authority (OGRA), the slash in prices will come into effect from June 1, 2012.

After the recent decrease of Rs 3.39 per liter, the new prices for petrol stand at Rs 99.97 per liter.  

A decline of Rs 1.23 into the prices of high Speed Diesel oil would bring the new sale prices at Rs 105.77/ liter.

A major relief has been served to the Kerosene oil users as after a slash of Rs 5.90, the per litre price for the oil now stands at 94.05 rupees.

In case of HOBC, after a reduction of over 10 rupees, the new market prices will stand at Rs 125.07 per litre.

The timing of this reduction in the oil prices suggests that the government wants to make an impression as if it is going to present a people friendly budget this year.

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Posted by Fayyaz Yaseen on May 31 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry