Petrol Price Slashed By Rs8 Per Litre

Petrol Price Slashed By Rs8 Per Litre
Finance Minister Ishaq Dar announced on Wednesday that the price of petrol will be decreased by Rs8 and the price of high-speed diesel (HSD) by Rs5 for the upcoming two weeks.

The new price per liter for petrol and HSD is Rs262 and Rs253, respectively.

Kerosene oil's price stayed the same at Rs164.07, while the price of light diesel oil (LDO) was reduced by Rs5 per liter to Rs147.68.

In a video speech, the minister said that neither the price of petroleum products internationally nor the value of the rupee relative to the dollar had changed much in the previous 15 days.

However, the finance minister stated that "the government tried to create as much room as possible to provide relief to the people."

The price decreases follow a previous wave of price reductions on May 15 of Rs. 12, Rs. 30, and Rs. 12 for fuel, HSD, and LDO, respectively.

Dar had asked transporters and other departments that use diesel to pass along relief to the people in the form of cheaper fares together with the announcement of these price reductions so that every sector of the economy may profit from the change.