ISLAMABAD – The federal government announced a notable reduction in petroleum prices for the first half of August 2024 on Wednesday.

Approved by Prime Minister Shehbaz Sharif, these changes will be effective from August 1, 2024, according to a notification from the Ministry of Finance.

Petrol prices have been lowered by Rs6.17 per litre, setting the new price at Rs269.43. High-speed diesel prices dropped by Rs10.86, now priced at Rs272.77 per litre.

The price of light-speed diesel decreased by Rs5.72, bringing it to Rs160.53 per litre. Kerosene oil saw a reduction of Rs6.32, with the new price at Rs177.39 per litre for the first half of August.

Earlier in the day, the Oil and Gas Regulatory Authority (Ogra) announced an increase in liquefied petroleum gas (LPG) prices for August 2024.

According to the Ogra notification, the LPG price rose by Rs2.72 per kilogramme, making the new price Rs236.99 per kg starting August 1.

The price of an 11.8kg domestic cylinder was increased by Rs26.90, now costing Rs2,796.56 in the local market of Pakistan. In July, the price of the 11.8kg cylinder was Rs2,769.66.