ISLAMABAD: The federal government on Thursday slashed prices of petroleum products by up to Rs2 per litre effective from April 16, 2021.

A notification from the Finance Division in this regard issued here on Thursday.

According to a notification, the government has reduced the price of petrol by Rs1.79 per litre, high speed diesel by Rs2.32, kerosene by Rs2.06, and the rate of light diesel oil has been slashed by Rs2.21 per litre.

The new price of petrol will be Rs108.56 per litre. The prices of high-speed diesel and kerosene have been slashed to Rs110.76 and Rs80 per liter respectively

The government reduced the prices following recommendations of the Oil and Gas Regulatory Authority (Ogra).

The new rates of petroleum products will be enforced today at midnight countrywide.

On March 31, Finance Minister Hammad Azhar announced a Rs1.50 per litre cut in the price of petrol while a Rs3 per litre decrease in that of diesel. NNI