ISLAMABAD: Following a major cut in petroleum product prices, a notification issued by the Petroleum Division. Under the latest revision, the price of petrol has been reduced by Rs74.28 per litre, bringing the new rate down to Rs299.50 per litre.
The price of High-Speed Diesel (HSD) has been slashed by Rs67.31 per litre. Following the reduction, the new price of diesel has been set at Rs311.47 per litre.
An official notification by the Finance Division detailing revised rates has been issued by the Petroleum Division. Petroleum Division said the revised prices will come into effect from 12:00 midnight today. The price cut is expected to provide relief to consumers and lower transportation costs across the country. Market analysts say the reduction could also help ease inflationary pressures in the coming weeks.
Earlier in the day, the government has announced a significant reduction in petroleum prices, cutting petrol rates by Rs74 per litre and high-speed diesel by Rs67 per litre, according to the latest announcement.
The revised prices come as part of adjustments in global oil trends and domestic pricing calculations, offering relief to consumers facing high inflation.
In his statement, Prime Minister Shehbaz Sharif said the recent reduction in fuel prices fulfils his commitment to provide relief to the public, as the government announced a major cut in petroleum rates.
Following the revision, the price of petrol has reached Rs299 per litre, while diesel prices have been adjusted between Rs311 and Rs378 per litre.
