In response to a drop in global crude oil prices, Prime Minister Shehbaz Sharif has authorized a significant reduction in the prices of petroleum products, offering considerable relief to the public.
On Wednesday, the Ministry of Finance released an official notification confirming the price cuts, which will take effect from midnight and remain valid for the next fifteen days.
Read more: Petrol and HSD Prices Expected to Decrease
Under the new prices, petrol will be reduced by Rs6.17 per litre, bringing it to Rs269.43. High-speed diesel will drop by Rs10.86 per litre, now costing Rs272.77.
The prices of deregulated products have also been adjusted, with light diesel falling by Rs5.72 per litre to Rs160.53 and kerosene decreasing by Rs6.32 per litre to Rs177.39.
The reduction follows a ten-day decline in global oil prices, leading the Oil and Gas Regulatory Authority (OGRA) to revise local rates.
This move is intended to alleviate financial pressures on citizens.
It’s important to note that on July 15, the government had previously raised the prices of petrol by Rs9.99 and high-speed diesel by Rs6.18, setting petrol at Rs275.60, high-speed diesel at Rs283.63, kerosene at Rs183.71, and light diesel at Rs166.25 per litre.
