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Tuesday 11 June, 2024
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Petrol price remains unchanged, diesel price reduced by Rs5 per litre from 1 May

BY Muhammad Noman May 01, 2023. 01:02 am UPDATED: May 01, 2023. 01:02 am

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The price of petrol will remain unchanged for the next two weeks, while the federal government on Sunday announced a reduction in the price of diesel by Rs 5 per litre.

On the orders of Prime Minister Shehbaz Sharif, the new prices, according to Finance Minister Ishaq Dar in a televised speech, were developed to offer “maximum relief” to the general public.

Additionally, the financial czar announced price reductions for both kerosene and light diesel oil (LDO) of Rs. 10 per litre.

Petrol will be available at Rs282, HSD at Rs288, kerosene at Rs176.07, and light diesel at Rs164.68 per litre following the announcement of new rates.

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In the transportation and agricultural industries, diesel is widely used. As the crop-harvesting season has begun, the price reduction may lessen the impact of inflation while also providing farmers with some relief.

Customers already face exorbitant prices, particularly the low-income population who drive small vehicles and motorcycles.

The federal government announced price increases for fuel and petrol oil last fortnight “in the wake of the increase in petroleum prices in the international market and exchange rate variations.”

It was previously reported by Geo News that sources in oil marketing companies (OMCs) expected the price of petrol to decrease by Rs4.5 per litre and the price of diesel to decrease by Rs6 per litre.

 

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