Caretaker Government Slashes Petrol and Diesel Prices in Pakistan

government reduce petrol prices

government reduce petrol prices

In a Significant Relief for Consumers the Caretaker Government in Pakistan has announced a Substantial Reduction in Petrol and High-Speed diesel (HSD) Prices. The Prices have been Lowered by Rs14 per litre for Petrol and Rs13.50 per litre for HSD. The new Prices, effective for the Next fortnight from December 16 to December 31 are Rs267.34 for Petrol and Rs276.21 for HSD.

The Decision to Reduce Fuel Prices was recommended by the Oil and Gas Regulatory Authority (OGRA) and comes as a Response to the Decline in international Market Prices for Petroleum Products. The Government aims to Pass on the Benefit of lower Global Prices to the Consumers. In addition to Petrol and HSD the Prices of kerosene Oil and light-diesel Oil have also been Reduced. Kerosene Oil is now Priced at Rs191.02 Per litre, Reflecting a Reduction of Rs10.14, while light-diesel oil is Priced at Rs164.64 per litre after a Reduction of Rs11.29.

Read More: Caretaker PM Kakar Takes Helm in Dubai for Pakistan’s Stand at COP28

This Reduction in Fuel Prices is expected to Provide Relief to the General Public especially amid Economic Challenges and Rising inflation. The Government has been Monitoring international market Trends to adjust Domestic fuel Prices accordingly. The move is aimed at ensuring a Balance between Consumer interests and Economic Stability.

Read More: Caretaker PM Kakar Takes Helm in Dubai for Pakistan’s Stand at COP28

It’s worth noting that the international market has witnessed a decline in the Prices of major Petroleum Products by almost five Percent over the Past fortnight. The Caretaker Government is taking Proactive measures to manage the Economic impact and Provide some Respite to the Public. These adjustments in Fuel Prices Contribute to managing the Overall Cost of living for Citizens.

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