In a welcome move, the government of Pakistan has reduced the prices of petrol and high-speed diesel (HSD) for the next fortnight. The Ministry of Finance issued a notification on Wednesday, following approval from Prime Minister Shehbaz Sharif.
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 at Rs272.77 per liter. The prices of kerosene oil and light diesel oil (LDO) have also been reduced by Rs6.32 and Rs5.72 per liter, respectively, for the next 15 days.
This price reduction comes as a relief to the common man, who has been bearing the brunt of high fuel prices for several months. The government’s decision is expected to have a positive impact on the economy, as lower fuel prices will lead to reduced transportation costs and lower prices of goods.
The Oil and Gas Regulatory Authority (OGRA) works out the consumer prices for the upcoming fortnight, based on the international prices and exchange rate variations. The prices of petroleum products have continued to fluctuate in the international market in the last fortnight, leading to the price reduction.
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