ISLAMABAD: The government announced a reduction in the prices of petrol and high-speed diesel by Rs15.39 and Rs7.88, respectively, for upcoming fortnight.
The Ministry of Finance issued a notification stating that the new prices would take effect from midnight on Wednesday and remain applicable for the next two weeks. This adjustment was made in response to declining international prices of petroleum products observed over the past 15 days.
Following the revision, the price of petrol decreased to Rs273.1 per litre, while high-speed diesel now costs Rs274.08 per litre. Although the notification didn’t specify changes for light diesel oil (LDO) and kerosene oil, reports indicate reductions of Rs7.54 and Rs9.86 respectively for these fuels.
Fuel prices are influenced by various factors such as international market trends, fluctuations in the Pakistani rupee’s exchange rate, and government-imposed taxes. This latest adjustment follows a previous reduction on April 30, when the government lowered petrol prices by Rs5.45 per litre and diesel prices by Rs8.42 per litre as part of its bi-weekly review process.
