Government lowers gasoline prices by Rs. 5 per litre

Government lowers gasoline prices by Rs. 5 per litre

The price of gasoline would be reduced by Rs. 5 per litre by the federal government, while the cost of high-speed diesel (HSD) will stay the same.

Ishaq Dar, the finance minister, made the announcement during a press conference.

Petrol will now cost Rs. 267 per litre, while HSD will continue to cost Rs. 280 per litre.

The price of kerosene oil would also be reduced by Rs. 15 per litre, to Rs. 187.73 per litre, according to government announcements. 

Parallel to this, the cost of light diesel oil has decreased by Rs. 12 per litre, to become Rs. 184.68.

The government significantly increased the cost of petroleum products at the previous fortnightly review, driving up the cost of both gasoline and diesel to all-time highs.

The government blamed the devaluation of the Pakistani Pound for the increase, which saw the price of gasoline rise by Rs. 22.20 per litre and the price of high-speed diesel (HSD) by Rs. 17.20 per litre.

Kerosene and light diesel oil prices had also been raised by the government.