Global crude oil prices continued their downward trend, with Emirati crude trading at around $66 per barrel, US crude at $69 per barrel, and Brent crude at $72.12 per barrel.
Reflecting the easing trend in international oil markets, the Government of Pakistan has reduced the prices of petrol and high-speed diesel by Rs1.97 per litre, effective immediately.
According to an official notification, the new price of petrol has been set at Rs297.97 per litre, down from Rs299.94, while the price of high-speed diesel has been reduced to Rs309.50 per litre from Rs311.47.
Meanwhile, the government has increased the price of kerosene oil by Rs3.64 per litre, raising it from Rs227.50 to Rs231.14 per litre. The revised prices came into effect from today following the issuance of the official notification.
The latest revision follows continued weakness in global crude oil prices, which has provided room for adjustments in domestic fuel prices.
Read also: Govt Announces Cut in Petrol Price, Notification Issued
