The prices of kerosene oil and light diesel oil have been reduced significantly in Pakistan, providing relief to consumers.
The government has reduced the price of kerosene oil by Rs17.06 per litre. The new price of kerosene after reduction stands at Rs286.44 per litre.
The price of light diesel oil has also been reduced. Consumers will now pay Rs17.66 less for every litre of light diesel oil. The price of light diesel oil has fallen to Rs252.03 per litre.
The revised prices came into effect from August 29.
However, there was no change in the price of jet fuel used by aircraft, and has been maintained at Rs322.41 per litre.
The reductions represent a noticeable decline in the prices of both kerosene and light diesel oil. For consumers who regularly depend on these products, the lower rates could reduce fuel expenses.
Kerosene oil price reduction in Pakistan
Previously, the government of Pakistan had announced a new price for kerosene oil.
According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the price of kerosene oil was reduced by 41 paisa per litre.
The Ministry of Finance said the price had been revised due to changes in global petroleum prices. The new rate was set to remain in place for the prescribed period.
Pakistan regularly reviewed petroleum prices based on different factors. These included international oil prices, changes in the value of the Pakistani rupee and other market conditions. Changes in global oil markets could also affect petroleum prices in Pakistan.
Read more: New Kerosene oil price announced in Pakistan