The announcement of a surprising reduction in the prices of petroleum products

Prime Minister Shehbaz Sharif on Independence DayPetroleum products A huge reduction in prices has been announced.

Petrol price has been reduced by Rs 8.47 and diesel price by Rs 6.70 per litre.

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Petrol price per liter reduced from Rs 269.43 to Rs 260.96, diesel price per liter reduced from Rs 272.77 to Rs 266.07 per liter. The new prices will be applicable from August 14, the notification has been issued.

On the other hand, the sale of petroleum products in the country has recorded a decrease of 11% on annual basis in the first month of the current financial year.

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According to OCAC and industry statistics, the sale of petroleum products in the country was recorded at 1.20 million tons in July 2024, which is 11% less than July last year. In July last year, the sale of petroleum products was recorded in the country at 1.35 million tons. .

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Compared to June, the sale of petroleum products in July has recorded a decrease of 17% on a monthly basis. In June, the country recorded sales of 1.45 million tonnes of petroleum products, which will decrease to 1.20 million tonnes in July.

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According to statistics, the country recorded sales of 0.59 million tons of petrol, 0.40 million tons of high-speed diesel and 0.08 million tons of furnace oil in July, which is 10, 6 and 46 percent less than July last year, respectively.

In July last year, the country recorded sales of 0.66 million tonnes of petrol, 0.49 million tonnes of high speed diesel and 0.14 million tonnes of furnace oil.