The federal government has announced a reduction in the prices of petroleum products on the recommendations of Oil and Gas Regulatory Authority (OGRA).
According to a notification issued by the Finance Ministry on Tuesday, petrol and diesel prices have been reduced by Rs1.50 per liter.
However, OGRA has recommended Rs3.50 per liter cut in petrol prices.
The notification said that the price of kerosene has also been reduced by Rs1.50 per liter while the price of light diesel oil by Re1 per liter.
The new prices will be effective from September 1 for the next 15 days.
The new price of petrol is Rs118.30 per liter, of light diesel oil Rs84.77 per liter and of kerosene Rs86.80 per liter.