Price of petrol has been slashed by Rs18.50 and diesel by Rs40.54
Pakistan’s coalition government has announced a reduction in the prices of petrol and diesel after a global dip in oil prices.
In his address to the nation, Prime Minister Shehbaz Sharif announced that the price of petrol has been slashed by Rs18.50 and diesel by Rs40.54.
The prime minister explained that his government had no option but to increase petrol prices to fix the economy. “We increased prices with a heavy heart, and due to rising oil prices in international markets, we increased prices,” he said.
“However, with God’s blessing, the oil prices are declining in global markets and hence the government is also reducing the prices,” he added.
The prices were slashed after the country witnessed a massive increase of Rs 66% or Rs99 in petrol prices within a month (between May 26 and June 30).
New prices from July 15
According to a news release issued by the Finance Division, the new prices from July 15 are as follows:
- With a reduction of Rs18.50, the new cost of petrol will be Rs230.24 per liter
- After a cut of Rs40.54, the new cost of High Speed Diesel will be Rs236 per liter.
- The price of Kerosene oil was lowered by Rs33.81 and will now cost Rs196.45 per liter.
- Prices of Light Diesel Oil were slashed by Rs34.71 and will cost Rs191.44 per liter.