Finance Minister Ishaq Dar announced a reduction in the price of petroleum products on Monday, providing much-needed respite to the populace.
The price of petrol has been decreased by Rs. 12 per liter under the revised rates announced by the finance minister, while the price of high-speed diesel has been dropped by Rs. 30 per liter.
| Product | Existing prices w.e.f 1.05.2023 | New prices Advertisement 16.05.2023 | Decrease |
| Petrol | Rs282 | Rs272 | Rs12 |
| High-speed diesel | Rs288 | Rs258 | Rs30 |
| Kerosene | Rs176.07 | Rs164.07 | Rs12 |
| Light diesel oil | Rs164.68 | Rs152.68 | Rs12 |
It is worth noting that the government kept the price of fuel steady at Rs. 282 per liter in the most recent fortnightly review of petroleum pricing. However, a minor reduction in the price of high-speed diesel was reported, with the price dropping by Rs. 5 liter to Rs. 288.
According to the latest numbers issued by the Pakistan Bureau of Statistics (PSB), weekly inflation in the nation is greater than 48 percent year on year. The previous year’s high gasoline and diesel costs were a key contributor to the widespread inflation.
