In a significant move, the Government of Pakistan has reduced the prices of petrol and high-speed diesel (HSD) as part of its fortnightly price revision. According to an announcement by the Ministry of Finance on Monday, petrol prices have been cut by Rs2.07 per litre, while HSD sees a larger reduction of Rs3.40 per litre.
The new price of petrol now stands at Rs247.03 per litre, while HSD is priced at Rs246.29 per litre. These revised rates will remain in effect for the next two weeks, offering slight relief to consumers across the country.
As reported by PTV News, the price of light diesel oil has also been slashed by Rs1.03, bringing it down to Rs140.90 per litre. Kerosene oil has seen a reduction of Rs3.57, making its new price Rs154.90 per litre.
The government had previously reduced petrol prices by Rs10 per litre, setting the rate at Rs249.10 in the last revision. Hi-octane fuel, which is typically sold at a higher rate, had been priced approximately Rs17 per litre more than regular petrol prior to the latest adjustment.
These price changes will take effect at midnight, with petrol stations across the country expected to start selling fuel at the revised rates from 12 AM.
The reduction in fuel prices comes as the government continues to adjust to fluctuations in the international oil market, while trying to mitigate the economic impact on the local population.
