Khashif Talks Unlock Knowledge & Explore with Khashif Talks!
Prime Minister Shehbaz Sharif has announced a major reduction in petroleum product prices following a decline in global crude oil prices, bringing much-needed relief to the public. The Ministry of Finance issued an official notification on Wednesday confirming the price adjustments, effective from midnight and valid for the next fifteen days.
Under the new rates, the price of petrol has been reduced by Rs6.17 per litre, bringing it down to Rs269.43. High-speed diesel will now cost Rs272.77 per litre, following a reduction of Rs10.86. The prices of deregulated products have also been adjusted: light diesel is now priced at Rs160.53 per litre, a decrease of Rs5.72, while kerosene has been reduced by Rs6.32 per litre, bringing it to Rs177.39.
The recent decline in global oil prices prompted the Oil and Gas Regulatory Authority (OGRA) to revise local prices accordingly. This move is aimed at alleviating the financial pressure on consumers amidst ongoing economic challenges.
It’s important to note that the government had previously increased petroleum prices on July 15, with petrol rising by Rs9.99 and high-speed diesel by Rs6.18. At that time, petrol was priced at Rs275.60, high-speed diesel at Rs283.63, kerosene at Rs183.71, and light diesel at Rs166.25 per litre.
This recent price reduction reflects the government’s efforts to provide relief to citizens in response to fluctuating global oil markets.
