ISLAMABAD: The federal government has reduced the price of petrol by Rs 2.07 per litre. This price cut will be effective for the next fortnight. The announcement came late Monday, offering some relief to consumers amid rising inflation.
The new petrol price has been adjusted to Rs 331.38 per litre, down from Rs 333.45 per litre. This is part of the government’s regular revision of fuel prices based on international market trends.
Finance Ministry officials stated that the decision was taken after considering the recent dip in global oil prices. They added that the government aims to pass on the benefits of lower crude oil costs to the public.
However, the price of high-speed diesel remains unchanged. Diesel is widely used in agriculture and transport, so any change could impact other sectors significantly.
This slight reduction in petrol prices comes as a relief for motorists, who have been grappling with rising costs in recent months. Yet, many believe the cut is not enough to counterbalance the overall inflationary pressure on daily essentials.
The government regularly revises fuel prices every 15 days. These revisions are influenced by fluctuations in global oil prices and the exchange rate of the Pakistani Rupee.
Motorists and businesses hope for further cuts in the future, given the volatile nature of the oil market. The next fuel price adjustment will be announced in two weeks, depending on global trends and local economic factors.
For now, the Rs 2.07 reduction offers some respite, but the overall cost of living continues to rise for many in Pakistan.