Petrol price cut by Rs2/litre, diesel rate remains unchanged

The Pakistan government has announced a reduction in petrol prices.

According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the price of petrol has been reduced by Rs2 per litre, while the price of diesel remains unchanged.

As per the notification, the new price of petrol has been fixed at Rs330 per litre, while diesel will continue to be sold at Rs360 per litre.

The revised prices of petrol and diesel will be effective from November 14.

Earlier, Petroleum dealers demanded a forensic audit of oil refineries’ profits, claiming that a transparent review could reveal scope for reducing petrol prices by Rs50 per litre and providing relief to consumers.

The demand was raised during an emergency meeting of petroleum dealers in Karachi, where participants discussed refinery profits, petroleum pricing and possible relief for consumers.

Petroleum dealers, including Malik Khuda Bakhsh and Anwar Kamal, called for a transparent forensic audit of the financial affairs of all refineries to establish the actual profits earned by the companies.

Malik Khuda Bakhsh said refineries had earned profits equivalent to a full year’s earnings in just three months. He said a forensic audit would bring the facts about their profits to light.