The Finance Division stated on Tuesday that the price of petrol in Pakistan will be reduced by Rs 1.50 starting on Wednesday, September 1.
As a result, 1 litre of petrol will now cost Rs 118.30 for the next 15 days.
“Despite international price fluctuations in petroleum products and anticipated increase in future prices, the government has reduced the prices in order to provide maximum relief to the consumers,” read the notification issued by the Finance Division on Tuesday.
The government has also announced a reduction in the price of high-speed diesel (HSD), which now costs Rs 115.03 a litre.
Similarly, kerosene will be reduced by Rs 1.50 per litre, to Rs 86.80 per litre.
Meanwhile, light diesel oil also reduced by Rs 1 per litre, making it available at Rs 84.77 per litre.
However, the Oil and Gas Regulatory Authority (OGRA) of Pakistan has recommended that the Petroleum Division cut petrol price by Rs 3.5, diesel price by Rs 5, light diesel oil price by Rs 2, and kerosene oil price by Rs 3. It was overviewed by Prime Minister Imran Khan.
The government, which revises petroleum product rates twice a month, announced in the last two weeks of August that petrol and high-speed diesel prices will remain unchanged for the rest of the month. however, the price of kerosene oil was raised by Rs 0.81 per litre, while the price of light diesel as raised by Rs 1.10 per litre.