Govt slashes petrol price

ISLAMABAD: The federal government slashed the prices of petroleum products ‘as a gift’ to the people on the eve of Independence Day, ARY News reported.

The price of petrol has been reduced by Rs 8.47 to Rs 260.96 per litre.

High-speed diesel has been reduced by Rs 6.07 per litre, making the new price Rs 266.07 per litre.

Earlier in the day, it was reported that the prices of petrol and diesel in Pakistan would be decreased by Rs 11 and Rs 7 per litre respectively.

The new prices will be in effect from Thursday, 14th August.

This adjustment in fuel prices came as welcome news for consumers, as it could lead to lower transportation and production costs across the country.

Earlier to this, the government slashed the prices of petrol and high-speed diesel (HSD) for the next fortnight by Rs6.17 and Rs10.86, respectively.

The Ministry of Finance issued a notification following an approval from Prime Minister (PM) Shehbaz Sharif.

According to the notification, the price of petrol has been reduced by Rs6.17 per liter, making the new price Rs269.43 per liter. Similarly, the price of diesel has been reduced by Rs10.86 per liter, setting the new price Rs272.77 per liter.