Business
Govt cuts down petrol price by Rs8 per litre
Following the reduction in POL prices, the petrol will be available at Rs323.38 per litre from the previous rate of Rs331.38.
Islamabad: In a move aimed at providing relief to the public grappling with rising inflation, the interim government on Saturday night announced a reduction in the prices of petroleum products.
This marks the first decrease in over two months of the caretaker setup.
Effective from midnight, the new prices for these essential commodities are as follows:
Petrol: The price of petrol has been lowered by Rs8, bringing it down to Rs323.38 per litre from the previous rate of Rs331.38.
Diesel: The price of diesel has seen a significant reduction of Rs11, resulting in a new price of Rs318.18 per litre, down from Rs329.18.
Besides it, the government also reduced the rates of kerosene oil and light diesel oil. Kerosene oil would now cost Rs237.28 per litre, reflecting a decrease of Rs7.53, while light diesel oil would be priced at Rs212.45 per litre after a reduction of Rs7.77.
The Ministry of Finance issued a statement explaining that this decision was made in response to positive developments in the exchange rate of the Pakistani rupee and a decrease in global petroleum prices. They stated, “In light of fluctuations in international petroleum prices and the strengthening of the exchange rate, the Government of Pakistan has decided to adjust the consumer prices of petroleum products,”.
It's worth noting that the last time a price adjustment occurred was in mid-July when petrol was reduced by Rs9 per litre to Rs253 and diesel by Rs7 to Rs253.50.