The federal government has revealed its decision on gasoline pricing for the next two weeks across the country.
Finance Minister Ishaq Dar announced a reduction in the price of petroleum products on Saturday, providing much-needed respite to the masses.
The price of petrol has been decreased by Rs. 9 per liter under the revised rates announced by the finance minister, while the price of high-speed diesel has been dropped by Rs. 7 per liter.
The new petrol price will be Rs. 253 per liter, while the high-speed diesel price would be Rs. 253.50 per liter.
Petroleum prices will remain in force from July 16 until July 31. However, no modifications in the price of kerosene or light-diesel oil were announced by the finance minister.
According to the minister, the drop in fuel prices is attributable to the recent strengthening of the Pakistani rupee against the US dollar.
Dar noted that the strengthening of the rupee against the US dollar has compensated for the spike in oil costs.
He also added that because the government had already included a component of the petroleum development levy (PDL) in the July 1 price increases, no further amount will be passed on in the newest price announcement.
According to the Minister, the decision is in line with Prime Minister Shehbaz Sharif’s mandate to prioritize delivering aid to the people.