Islamabad, In response to the recent decline in international petroleum prices, the Oil and Gas Regulatory Authority (OGRA) has announced a reduction in the prices of Motor Spirit (Petrol) and High Speed Diesel (HSD) for the forthcoming fortnight, starting from May 16, 2024. This adjustment reflects the changing dynamics in the global oil markets and aims to pass the benefits on to the consumers.
According to Press Information Department, the new price for Motor Spirit will be reduced by Rs. 15.39 per liter, setting it at Rs. 273.10, while High Speed Diesel will see a decrease of Rs. 7.88 per liter, adjusting the price to Rs. 274.08. These changes are part of OGRA’s routine price evaluation, which aligns local fuel prices with international market trends, aiming to ensure fairness and economic stability for consumers.