ISLAMABAD: The government of Pakistan Muslim League (N) made an unprecedented reduction of Rs 19 in petrol prices in two successive months of November and December, bringing prices to the lowest level in five years.
The Prime Minister in a public meeting in Havelian on Saturday announced the latest reduction in price of petrol by Rs 9.63 to Rs 84.53.
While in the month of November the federal government made a hefty cut in fuel prices and the price of petrol was slashed by Rs9.43 per liter to Rs 94.19 per liter.
The cut in December will be the third consecutive price drop for petroleum products in as many months.
Representatives of industry and trade bodies and people from all walks of life hailed the government’s decision of reducing the prices of petroleum products.
The reduction in petroleum prices would help provide relief to common man and lower prices of edible items.
According to Federal Minister for Planning and Development Ahsan Iqbal the government was following economic agenda for progress and prosperity of the country.
The Prime Minister in his address in Hazara division announced that the price of High Octane was also being slashed by Rs 0.61, Kerosene oil by Rs 4.34, and High Speed Diesel by Rs 7.12.
In November, the highest cut was made in the price of HOBC and other petroleum products such as petrol, HSD and kerosene oil were lowered to a significant level.
The price of high speed diesel (HSD) was reduced by Rs6.18, kerosene oil Rs8.16 and light diesel oil (LDO) by Rs8.04 for the month of November.
In November, the price of petrol was at Rs94.19 per liter, kerosene oil Rs87.52 per liter, HOBC Rs116.45 per liter, HSD Rs101.21 per liter. The new price of LDO, mainly used in industry, was fixed at Rs83.37 per liter.