Prices of kerosene oil, diesel slashed: Ishaq Dar

OMCs had last revised the prices on 16 December through 50 paise per litre cut in petrol rates and 46 paise per liter reduction in diesel prices.

Islamabad-Finance Minister, Ishaq Dar on Thursday announced that prices of petrol and High Octane Blending Component (HOBC) will remain the same for the month of January 2016.

Prior to that oil firms had last cut petrol price by 58 paise a litre and diesel by 25 paise a litre on December 1.

Diesel prices will by slashed by Rs 1.06 per litre in the national capital.

“The current level of worldwide product prices of Petrol & Diesel and dollar-rupee exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision”, said Indian Oil Corporation, the country’s largest fuel retailer.

Finance Minister Ishaq Dar said that government has chose to table scheme for non filers to the Parliament to fulfill its legal requirement and approval from the parliament.

The petroleum prices are decreasing in worldwide market but Pakistan government is not going with the global trend.