ISLAMABAD: The federal government has significantly reduced the price of diesel while increasing the price of petrol, according to a notification issued by the Petroleum Division.
Under the revised prices effective from August 20, the price of diesel has been cut by Rs 32.63 per litre.
Following the reduction, the new price of diesel has been set at Rs 363.06 per litre.
Meanwhile, the government has increased the price of petrol by Rs 2.97 per litre, taking its new price to Rs 337.51 per litre.
The revised rates have been notified by the Petroleum Division and will come into effect from August 20.
Big Relief for Consumers as Govt Moves to Cut Diesel Prices
Earlier, the federal government has decided to reduce the price of diesel by up to Rs 32 per litre, Petroleum Minister Ali Pervaiz Malik said.
The petroleum minister said the government was aware of the difficulties and hardships being faced by the public and was making every possible effort to provide immediate relief.
He said the decision to provide subsidies on petroleum products was also part of the government’s efforts to ease the burden on consumers.
Ali Pervaiz Malik said the government was taking steps to protect the public and expressed hope that the current difficult situation would eventually ease.
He attributed the recent increase in petroleum prices to an escalation in the intensity of the war, adding that several countries were facing difficulties in securing adequate diesel supplies.
The petroleum minister said oil refineries had decided to reduce the price of diesel by between Rs30 and more than Rs32 per litre.
The development comes as the government seeks to provide relief to consumers amid higher petroleum prices and supply-related challenges.
