Fuel prices reduced

Oil Marketing Companies and LPG Marketing Companies have been directed to reduce prices at the pump to ease pressure on consumers.

The National Petroleum Authority (NPA) in a letter to the OMCs asked them to use revised prices in the Price Stabilization and Recovery Levy Act to control the recent price increases in petroleum products.

This means that petrol will remain at 12 pesewas per liter, diesel and LPG prices have dropped to 3 pesewas per liter from 10 pesewas per liter.

The NPA’s directive follows a letter from the Energy Ministry pointing out the fluctuations in the prices of petroleum products as a result of external factors.

Consumers are expected to experience changes in prices at the pumps in the first pricing window of December 2017.