The Federal Government on Friday announced to reduce the prices of petrol by Rs1.20 per litre, and for High speed diesel by Rs 1.60 per litre while the prices of kerosene and light diesel oil will remain the same.Finance Minister Ishaq dar in a press conference said that the new prices would go in effect from Friday midnight. As per the announcement the petrol prices will be decreased from Rs72.80 to Rs71.30 and diesel prices from Rs81.40 to Rs79.90 per litre. While the prices for Kerosine and light diesel oil will remain unchanged at Rs 44 per litre.
Ishaq Dar further stated that Government has absorbed a considerable impact of price increases since April 2016. He further stated that the Federal Government will bear a burden of Rs 2.4 billion by not increasing the prices of petroleum products in July.
