Petrol price reduced by Rs2.73 per litre

ISLAMABAD: The rate of petrol has been reduced by Rs2.73 for every litre sold during the month of March, said a handout issued by Ministry of Finance.

According to the statement, Prime Minister, Mian Nawaz Sharif, has sanctioned an extension to the existing subsidy on the petroleum products.

Sources, privy to the matters, said that the prime minster had also ordered the authorities concerned to collect the petroleum levy from the consumers at large but partially.

"The premier wants to provide as much relief to the consumers as possible", the sources quoted an official as saying.

In a rather commuter-friendly initiative the Oil and Gas Regulatory Authority (OGRA) sent summary calling for an increase in the rate of diesel. This the price of diesel remains unchanged at Rs116.75/litre.

Similarly, the prices of kerosene oil and high octane also held status quo at Rs106.47 and Rs141.23 per litre.