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A week after a Rs7.5 increase, caretaker govt cuts petrol price by Rs4.26

On July 1, the government increased the price of petrol by around Rs7.5 per litre

SAMAA | - Posted: Jul 8, 2018 | Last Updated: 3 years ago
SAMAA |
Posted: Jul 8, 2018 | Last Updated: 3 years ago
A week after a Rs7.5 increase, caretaker govt cuts petrol price by Rs4.26

On July 1, the government increased the price of petrol by around Rs7.5 per litre

A private security guard sits at a closed Pakistan State Oil (PSO) petrol station following fuel shortages amid a countrywide strike by the All Pakistan Oil Tankers Association in Islamabad on July 26, 2017. Photo: AFP

The caretaker government has reduced the price of petrol by Rs4.26, a week after it increased the price by Rs7.5.

Petrol, high-speed diesel, low-speed diesel and kerosene will now sell for Rs95.24, Rs112.94, Rs75.37 and Rs83.96 per litre, respectively.

According to energy minister Ali Zafar, the government will suffer a loss of Rs10 billion due to the cut in the prices of petroleum products. However, the caretaker government is aware of the problems of the people, he said.

On July 1, the government increased the price of petrol by around Rs7.5 per litre. It increased the per litre prices of high-speed diesel, light-speed diesel and kerosene by Rs14, Rs5.92 and Rs87.7, respectively.

On July 5, Chief Justice Saqib Nisar sought an explanation from the caretaker government about the surge in the prices of petroleum products. He ordered the relevant stakeholders to come up with a way to bring down the oil prices and ease the burden on the people. The next hearing is today (Sunday).

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