Islamabad: The federal government has significantly reduced petroleum products prices as a gesture to the public following Independence Day celebrations, with new rates having taken effect on August 14.
Petrol prices have been cut by PKR 8.47, bringing the new rate to PKR 260.96 per liter. High-speed diesel is now priced at PKR 266.07 per liter, following a PKR 6.07 decrease. Earlier reports had suggested potential reductions of PKR 11 for petrol and PKR 7 for diesel. This move aims to ease the financial burden on consumers by lowering transportation and production costs nationwide.
Additionally, the Ministry of Finance, with the approval of Prime Minister Shehbaz Sharif, had previously announced price adjustments for the upcoming fortnight. Petrol prices were reduced by PKR 6.17 per liter to PKR 269.43, while high-speed diesel saw a PKR 10.86 reduction, bringing its new price to PKR 272.77 per liter. These adjustments are expected to offer significant relief to consumers and bolster economic stability across various sectors.
