ISLAMABAD: The government of Pakistan has slashed kerosene oil price by a wide margin, following cuts in petrol and diesel rates.
According to an official notification, kerosene oil price has been cut by Rs48.29 per litre. With the reduction, the new kerosene oil price is set at Rs233.90 per litre, effective from today.
Earlier, kerosene oil price stood at Rs282.19 per litre.
The cut comes after Prime Minister Shehbaz Sharif announced massive reduction in petrol and diesel rate.
The government on Friday announced a sharp reduction in petroleum prices, cutting petrol by Rs74 per liter and high-speed diesel (HSD) by Rs67 per liter.
Following the decrease, the price of petrol stands at Rs299 per liter and high-speed diesel (HSD) at Rs311, down from Rs373 and Rs378 per liter, respectively. T
he Petroleum Division’s notification announcing the decrease said the new prices would be effective from June 20 (Saturday).
The revised prices come amid volatility in global oil markets. By 0645 GMT, Brent crude futures rose 51 cents, or 0.64percent, to $80.36 per barrel, while US West Texas Intermediate (WTI) crude gained $1.28, or 1.7percent, to $77.88 per barrel.
