The federal government announced a reduction in the prices of petroleum products on Tuesday ahead of the scheduled fortnightly announcement which happens on the 15th of every month.
The price of petrol has been cut by Rs. 8.47 per liter to Rs. 260.96, while the price of high-speed diesel has been reduced by Rs. 6.70 per liter to Rs. 266.07. The new prices will be applicable from August 14.
The reduction in the price of petroleum products is due to a reduction in oil prices in the international market.
It is pertinent to mention here that at the last fortnightly review of petroleum prices, the government cut the price of petrol by Rs. 6.17 per liter while the price of high-speed diesel was reduced by Rs. 10.86 per liter.
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