Web desk: The federal government has reduced petrol prices by Rs5.66 per litre for the next two weeks, following recent changes in global fuel rates, according to reports on Wednesday.
The Finance Division’s notification stated that Prime Minister Shehbaz Sharif has approved a cut in petroleum product prices.
According to the sources, the new price of petrol will be Rs263.02 per litre. The price of high-speed diesel (HSD) has also been lowered by Rs1.39, bringing it to Rs275.42 per litre.
Meanwhile, kerosene oil has seen a cut of Rs3.26, now priced at Rs181.71 per litre, while light diesel oil will be sold at Rs162.76 per litre for the next fortnight, the sources added.
Petrol is primarily used in private transport, including cars, rickshaws, and two-wheelers.
Rising fuel prices place a heavy burden on the middle and lower-middle classes, who depend on petrol for daily commuting.
In contrast, a large part of the transport and agriculture sectors runs on high-speed diesel.
Its price has a direct inflationary effect, as it powers trucks, buses, trains, and farm machinery such as tractors, tube wells, and threshers.
Higher diesel costs often lead to an increase in the prices of vegetables and other essential goods.
