In a move that will bring relief to millions of Pakistanis, the government has announced a significant reduction in the prices of petroleum products.
The government of Pakistan has issued a notification announcing a significant reduction in the prices of petroleum products, effective immediately.
According to the notification, the price of petrol has been reduced by Rs 4.74 per liter. Additionally, the price of high-speed diesel has been decreased by Rs 3.86 per liter.
With these adjustments, the new price of petrol stands at Rs 268.36 per liter, while the new price of high-speed diesel is Rs 270.22 per liter. New prices of petroleum will be effective for next fortnight from June 1.
This decision comes as a relief to the public, offering some respite from the previous higher fuel prices.
The Ministry of Finance has offered minor relief to the public, contrary to the directives issued by Prime Minister Shehbaz Sharif. Despite the delay in issuing the notification of reduction in prices of petroleum products, the Ministry has decided to proceed with the recommendation.
Citing a downward trend in global petrol prices, the Ministry asserts that this move aligns with the advice from the Oil and Gas Regulatory Authority (Ogra). Ogra has proposed a reduction in prices for consumers due to the significant decline observed in the global market.
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