ISLAMABAD: The government on Sunday reduced petrol price by Rs2.32 per litre‚ compressed natural gas (CNG) in Region-I by Rs2.12 and in Region-II by Rs1.94 per Kg effective from Monday (today). The decision, which comes prior to the Eid, gave some relief to the masses, as the petrol price was slashed by Rs2.32 per litre. This is the second time that the petrol price has been cut in the past two weeks from Rs103.4 to Rs101.08 per litre.

Prices of all other petroleum products also witnessed a nominal decrease in line with a reduction in global oil prices under the weekly oil prices review mechanism. The price of petrol will come down from Rs103.40 to Rs 101.08 per litre. The prices of CNG also witnessed a decline of up to Rs2.12 per kg.

After a constant decline in High Speed Diesel (HSD) prices for last few weeks, consumers got a nominal price cut of Rs0.33 per litre that brought down its price to Rs113.29 from the existing rate of Rs113.62 per litre. Light Diesel Oil's (LDO) price also witnessed a nominal decline of 25 paisa per litre that brought down its price from the current level of Rs97.93 per litre to Rs97.68 a litre. Kerosene oil price was cut by 61 paisa per litre, down from Rs103.87 to Rs103.26 per litre. Prices of jet fuels JP-1, JP-4 and JP-8 also decline by 62, 58 and 63 paisa, settling at Rs92.46, Rs84.36 and Rs92.14 per litre, respectively.

Copyright Business Recorder, 2012