In a move that will bring much-needed relief to consumers, the federal government has announced a significant reduction in the petrol price in Pakistan.
New Petrol Price
Petrol price has been slashed by Rs. 8.47 per liter, bringing the new rate to Rs. 260.96 per liter. Similarly, the price of high-speed diesel (HSD) has been decreased by Rs. 6.70 per liter, with the revised rate now standing at Rs. 266.07 per liter.
The decision to reduce petroleum prices on the 13th of the month may come as a surprise to the public, but we believe the government made this positive move in celebration of the 77th Independence Day.
This price reduction is expected to have a positive impact on various sectors of the economy, including transportation, agriculture, and industry. With lower fuel costs, consumers can expect to see a decrease in the prices of goods and services, providing some respite from the rising cost of living.
This decision by the government is a welcome step and is likely to be appreciated by the general public. However, it remains to be seen whether these reduced prices will be sustained in the long term, given the volatile nature of global oil markets.
