Govt reduces petrol and diesel prices

ISLAMABAD: The government has announced a reduction in petroleum prices, offering some relief to the public, ARY News reported on Monday.

As per the notification, the price of petrol has been decreased by Rs 2.7 per liter, bringing the new price to Rs 247.03 per liter.

High-speed diesel saw a reduction of Rs 3.40 per liter, while light diesel has been lowered by Rs 1.30 per liter. Kerosene oil prices have also been reduced by Rs 3.57 per liter.

This decision aims to ease inflationary pressure on consumers amidst rising fuel costs globally.

Earlier to this it was reported that the petroleum products prices in Pakistan are likely to decrease from October 1.

According to details, the federal government was expected to announce a significant reduction in petrol prices on September 30, the sources said.

Sources claimed that the prices of petroleum products were likely to decrease between Rs 1 to 3 per litre which will be in effect from October 1.

Pakistan’s petrol and diesel prices are a complex mix of global influences and government control. Global crude oil prices and exchange rate fluctuations significantly impact the base price calculated by OGRA using the Import Parity Price formula. This essentially reflects the cost of imported fuel.