Govt cuts petrol price by Re1, raises diesel by Rs3.37 per litre

According to a notification issued by the Petroleum Division, the new price of petrol has been fixed at Rs334.18 per litre following the latest reduction.

Meanwhile, the price of high-speed diesel has been increased by Rs3.37 per litre, taking the new rate to Rs386.83 per litre.

The revised fuel prices came into effect after midnight and are now applicable across the country. Meanwhile, Petroleum Minister Ali Pervaiz Malik has constituted a high-level committee to address the concerns of the Oil Tanker Contractors Association (OTCA) following successful talks with its representatives.

The committee will be headed by the Special Secretary of Petroleum and has been directed to submit its recommendations within one week. It will include representatives from the Directorate General of Oil (DG Oil), the Oil and Gas Regulatory Authority (OGRA), the Oil Tanker Contractors Association (OTCA), and the Oil Companies Advisory Council (OCAC).

Also Read: Rangers soldier martyred as violence erupts after AJK elections

The decision followed a meeting between the petroleum minister and an OTCA delegation led by its president, Abidullah Afridi. During the meeting, the association raised concerns over the reduction in the White Oil Pipeline quota, the freight formula and issues related to commercial loading.

The government hopes the committee’s recommendations will help resolve the association’s concerns and ensure the smooth transportation and supply of petroleum products across the country.