Govt. Cuts Petrol Price by Rs. 8/L

Hi Everyone! I hope you are all doing well. Welcome back to another blog. In this blog, we will talk about, Govt. Cuts Petrol Price by Rs. 8/L. On Wednesday, the federal government officially announced a significant reduction in the prices of petroleum products, bringing relief to consumers across the country.

Finance Minister Ishaq Dar announced the following changes in a press conference: petrol prices have been decreased by Rs. 8 per liter, and high-speed diesel (HSD) prices have been lowered by Rs. 5 per liter. The revised prices for petrol and HSD will now be Rs. 262 per liter and Rs. 253 per liter, respectively.

The government has reduced the cost of light diesel oil (LDO) by Rs. 5 per liter. The new price of LDO will be Rs. 147.68. The price of kerosene oil will stay the same at Rs. 164.07. These new prices will take effect from midnight.

During the recent biweekly assessment, the government decreased the prices of all petroleum products. They reduced the petrol price to Rs. 12 per liter. And, the high-speed diesel (HSD) price saw a decrease of Rs. 30 per liter.

The increase in prices of petrol and HSD (high-speed diesel) over the past year has primarily caused the high weekly inflation. According to the latest data released by the Pakistan Bureau of Statistics (PBS), the weekly inflation reached 45.49 percent on a year-on-year (YoY) basis for the week ending on May 25, 2023.


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