In a move aimed at providing relief to the public, Finance Minister Ishaq Dar made an important announcement on Wednesday regarding the prices of petroleum products. Effective immediately, the petrol price will be reduced by Rs8 per liter, while high-speed diesel (HSD) will be reduced by Rs5 per liter for the next two weeks.
The new prices for petrol and HSD will be Rs262 and Rs253 per liter, respectively. This reduction expected to impact the economy, benefiting consumers across the country positively.
In addition to the petrol and diesel price cuts, light diesel oil (LDO) has also reduced by Rs5 per liter, now at Rs147.68. However, there will be no change in the price of kerosene oil, which will remain at Rs164.07 per liter.
In a video address, Finance Minister Ishaq Dar highlighted that there have been no significant changes in international petroleum prices over the past 15 days, and the value of the rupee against the dollar has remained stable. Nevertheless, the government committed to providing relief to the people and taken measures to create room for price reductions.
It’s worth noting that these price cuts follow a previous round of reductions in petrol, HSD, and LDO prices on May 15, where prices lowered by Rs12, Rs30, and Rs12 per liter, respectively.
In light of these reductions, Finance Minister Ishaq Dar appealed to transporters and other sectors relying on diesel to pass on the benefits to the public. Lower fares and charges will contribute to a more affordable and sustainable economy, ensuring that every segment of society benefits from these positive developments.
This significant decrease in petrol and diesel prices marks a progressive step by the government to alleviate the financial burden on the public, boosting economic stability and enhancing the overall well-being of the nation.
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