The federal government has announced a reduction of Rs4 per litre in the price of petrol, providing some relief to consumers amid rising living costs.
According to the latest notification, the price of petrol has been reduced from Rs381.78 per litre to Rs377.78 per litre with immediate effect. The government, however, decided to keep the price of high-speed diesel unchanged.
Following the decision, diesel will continue to be available at Rs380.78 per litre.
Petrol is widely used by owners of motorcycles, cars and other private vehicles, and the reduction is expected to offer limited relief to daily commuters. Diesel, on the other hand, is primarily used in the transport, agriculture and industrial sectors, making its price an important factor in determining the cost of goods and services.
The revised fuel prices will remain in effect until the next fortnightly review, when the government will reassess petroleum rates in line with trends in the international oil market and the exchange rate.
Also Read, Govt plans to pass lower domestic gas costs to consumers
Earlier, the federal minister for Petroleum, Ali Pervaiz Malik, said that soon good news will be announced for the gas consumers as the government is planning to revise or reduce gas tariff based on relatively cheaper locally produced natural gas.
During recent tension in the region and the conflict between the United States, Israel and Iran, the supply of liquefied natural gas (LNG) was temporarily limited, but since then, the production of locally sourced gas in the power sector has been substantially ramped up, the minister said.
