Petrol Price in Pakistan Decreased By Rs. 10/L
In a significant move to provide relief to the public, Prime Minister Shehbaz Sharif has approved a reduction in the prices of petroleum products. According to media reports, petrol price has been slashed by Rs.10 per liter, taking the price to Rs. 249.10 per liter from previous Rs. 259.10 per liter.
In addition to petrol, the government has also reduced the price of high-speed diesel (HSD) Rs.13.06 per liter, meaning it will now cost Rs. 249.10 per liter compared to old rate of Rs. 262.75 per liter. This reduction is expected to have a positive impact on transportation costs, potentially lowering the prices of goods and services across the country.
Kerosene oil, commonly used for cooking and heating in rural areas, has also seen a price cut. The new price of kerosene oil will be Rs. 11.15 per liter less than before. Similarly, the price of light diesel oil has been reduced by PKR 12.12 per liter.
These reductions in fuel prices will be effective from midnight tonight, offering immediate relief to consumers. The government’s decision is anticipated to ease inflationary pressures and contribute to economic stability by lowering the cost of transportation and daily necessities.
Earlier Expectations About Petrol Price in Pakistan
As per earlier media reports and industry sources, petrol and high-speed diesel (HSD) prices were projected to decrease by up to Rs. 12/liter. While kerosene prices was expected to see a reduction of up to Rs. 8/liter. On 31 August, the federal government of Pakistan decreased petrol price by Rs. 1.86/liter taking to it to Rs. 259.10/ liter.
Meanwhile high-speed diesel (HSD) saw a reduction of Rs. 3.32/liter, bringing its price to Rs. 262.75/liter. However, Kerosene oil price was slashed by Rs. 2.15 per liter, making its price Rs. 169.62/liter. Additionally, the price of light diesel oil was lowered by Rs. 2.97/liter, taking the price to Rs. 154.05/liter.
These anticipated price cuts were a direct result of the easing global oil market. However, it’s important to note that the final determination of the new fuel prices was finalized on the fluctuations in the international market between the 12th and 14th of September.
This development comes as a much-needed relief for the Pakistani public, who have been grappling with rising inflation and high fuel costs for some time now. A decrease in fuel prices in Pakistan is likely to have a positive ripple effect on the economy, as it could lead to lower transportation costs and reduced prices for various goods and services.
What do you think about the revised petrol price in Pakistan? Is this a right decision by the government? Tell us in the comments section.