Petrol Price Decreased by Rs5 per Litre for the Next Fortnight by Govt.
The federal government has announced a decrease in petrol prices by Rs5 per litre for the upcoming two weeks to provide relief to the masses who are already burdened by inflation.
In a press conference held on Tuesday, Finance and Revenue Minister Senator Ishaq Dar stated that diesel prices would remain unchanged at Rs280 per litre till the next review.
The price of light diesel oil has been reduced by Rs12 per litre, bringing it down to Rs184.68 per litre.
Similarly, after a reduction of Rs15 per litre in the rate of kerosene oil, its price has now been fixed at Rs187.73. These prices will come into effect from 12 am on March 1 and remain in place till March 15.
According to The News, the global market’s petrol and diesel prices have significantly decreased, allowing the government to provide relief to the people.
Additionally, the rupee’s appreciation against the dollar in the last two weeks has helped cut the import price of diesel and petrol, with the average exchange rate dropping by Rs8 for the next review of prices.
The announcement was surprising for some analysts who predicted that the government would increase the rates to appease the International Monetary Fund (IMF), whose loan is crucial for the cash-strapped nation
