Pakistan has witnessed a significant drop in fuel prices following a decline in global petroleum rates. The government has reduced the prices of light diesel and jet fuel, offering relief to consumers and key industries.
The reduction in petroleum product prices in Pakistan comes as a direct result of falling rates in the global market.
Lower international oil prices have allowed authorities to pass on the benefit to domestic consumers, particularly in essential fuels like light diesel and jet fuel.
Light diesel has recorded one of the biggest reductions, with its price slashed by Rs70.04 per litre. The new price has been fixed at Rs299.32 per litre, down from the previous rate of Rs399.72 per litre, marking a substantial decrease.
Jet fuel prices also reduced
Jet fuel prices have also been revised downward, providing relief to the aviation sector. The price of jet fuel has been reduced by Rs23.59 per litre, bringing it down from Rs494.71 to Rs471.01 per litre.
Also Read: Diesel price cut by Rs32.12 as PM orders swift public relief
On Friday, Prime Minister Shehbaz Sharif had announced a reduction in the price of diesel by Rs32.12, bringing it down from Rs385.54 to Rs353.43.
The move followed Iran’s announcement regarding the opening of the Strait of Hormuz. According to details, the prime minister approved the decrease with immediate effect and directed that the benefit of lower prices be passed on to the public at the earliest possible time.
