ISLAMABAD: In a bid to provide relief to the public and reflect the changes in international oil prices, the Pakistan government has announced a substantial reduction in petrol prices. Finance Minister Ishaq Dar disclosed during a televised address on Monday that petrol prices would be slashed by Rs12, while diesel prices would witness a decrease of Rs30.
“Prime Minister Shehbaz Sharif and his government strive to maximize public relief based on international prices,” stated Finance Minister Dar. “Effective from 12 am tonight for the next 15 days, the price of petrol will be reduced to Rs270.”
The finance minister further announced that diesel prices would now be set at Rs258, reflecting the Rs30 deduction. Similarly, the price of kerosene oil would experience a decrease of Rs12, resulting in a new price of Rs164.07 per litre. Furthermore, the price of light diesel oil would also be reduced by Rs12 to Rs152.69 per litre.
Reduction in petrol prices after declining international oil rates
The decision to reduce petrol prices comes as a result of the declining international oil rates. The federal government, led by the Pakistan Democratic Movement (PDM), aims to pass on the benefits of these lower prices to the general public.
The revised rates will be effective from midnight tonight and will remain in place for the next fortnight. Finance and Revenue Minister Senator Ishaq Dar assured the public during his address that the government is taking steps to provide relief and address the impact of fluctuating oil prices.
