Prime Minister Anwaarul Haq Kakar-led caretaker government on Sunday night slashed the price of petrol by Rs40 per litre and high-speed diesel by Rs15 per litre for the next fortnight.
The finance ministry in a notification stated that "Owing to the decreasing trend of Petroleum prices in the international market and due to appreciation of the Pak Rupee against the US dollar, the government has decided to revise the existing consumer prices of petroleum products."
Following the significant drop, the new price of petrol is Rs283.38 per litre and Rs303.18 per litre for HSD, it added.
The notification further stated that the new prices will come into effect from 12am (tonight, October 16) and remain in place till October 31.
Two weeks ago, the interim government slashed the price of petrol by Rs8 per litre and high-speed diesel by Rs11 per litre for the next fortnight.
In a notification, the ministry stated that in the wake of variations in the international price of petroleum products and improvement in the exchange rate, the government has decided to revise consumer prices.
Following the reduction, the new price of petrol was Rs323.38 per litre and Rs318.18 per litre for HSD.
