The federal government has decided to decrease the price of petrol by Rs. 5 per liter, while the price of high-speed diesel (HSD) will remain the same.
The decision was announced by Finance Minister Ishaq Dar while addressing a press conference.
The new price of petrol will be Rs. 267 per liter while the price of HSD will remain at Rs. 280 per liter.
The government has also announced a reduction of Rs. 15 per liter in the price of kerosense oil and the new price will be Rs. 187.73 per liter. Similarly, the price of light diesel oil has been cut by Rs. 12 per liter and the new price will now be Rs. 184.68 per liter.
At the previous fortnightly review, the government substantially jacked up prices of petroleum products, taking the prices of both petrol and diesel to an all-time high.
The government attributed the hike, that saw price of petrol go up by Rs. 22.20 per liter and the price of high-speed diesel (HSD) by Rs. 17.20 per liter, to the devaluation of the Pakistani Rupee. The government had also increased the prices of kerosene and light diesel oil.
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