On Friday, Pakistan’s consumers were pleasantly surprised as the caretaker government announced a substantial reduction in fuel prices. Rs14 cut the cost of petrol, and high-speed diesel (HSD) saw a reduction of Rs13.50 per liter for the next two weeks. The Ministry of Finance attributed this price adjustment to two main factors: the recent decline in international oil prices and an improvement in Pakistan’s exchange rate.
New Petrol Price in Pakistan Today
Under the revised prices, petrol is now available at Rs267.34 per liter, and HSD is priced at Rs276.21. This double-digit decrease results in approximately a 5% reduction in fuel costs, providing a welcome change for consumers grappling with inflation and increasing living expenses. The prices of kerosene oil (SKO) and light diesel oil (LDO) have also been reduced by Rs10.14 per liter and Rs11.29 per liter, respectively. Following the adjustment, SKO is now priced at Rs191.02, and the new price for LDO will be Rs164.64. These revised prices will come into effect from midnight tonight.
Reasons Behind Reduction in Petrol Prices
The decision by the caretaker government to pass on the benefits of the international price drop to consumers is a positive move aimed at providing relief during challenging economic times. It underscores the administration’s commitment to fiscal responsibility and its recognition of the hardships faced by the people of Pakistan.
