EconomyPakistan

Petrol Price in Pakistan Decreases by Rs8 per Litre, Diesel Sees Rs11 Cut

In a move that brings relief to the inflation-stricken public, the interim government of Pakistan has announced a significant reduction in the prices of petrol and diesel. Effective from October 1, the price of petrol has been decreased by Rs8 per litre, marking the first such reduction in two-and-a-half months.

The new price of petrol will be Rs323.38 per litre, down from the previous price of Rs331.38. This is a significant decrease and is expected to bring some relief to the common man.

In addition to this, the price of diesel has also been reduced by Rs11 per litre. The new rate for diesel will now stand at Rs318.18 per litre. These revised prices came into effect from midnight.

The Ministry of Finance stated that this decision was made possible due to the strengthening of the Pakistani rupee and a drop in POL rates on the global market. “In light of changes in international petroleum product prices and improvements in the exchange rate, the Government of Pakistan has decided to revise consumer prices for petroleum products,” said the ministry.

Furthermore, the government has also reduced the price of kerosene oil by Rs7.53 per litre, bringing it down to Rs237.28. The price of light diesel oil has been slashed by Rs7.77 per litre, making it now Rs212.45.

The last time such a decrease was witnessed was in mid-July when petrol prices were reduced by Rs9 per litre to Rs253 and diesel to Rs253.50 with a reduction of Rs7.

This move is expected to provide some relief to consumers who have been grappling with inflation and high fuel prices for some time now.

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