The government has given another relief by announcing notable reduction in the prices of petroleum products effective immediately.
The price of petrol has been decreased by Rs 4.74 per liter, while the price of high-speed diesel has been lowered by Rs 3.86 per liter.
The new prices, which come into effect from June 1st, set petrol at Rs 268.36 per liter and high-speed diesel at Rs 270.22 per liter.
This decision offers much-needed respite to the public, alleviating some of the financial burdens imposed by previous higher fuel prices.
Despite delays in issuing the notification, the Ministry of Finance has proceeded with the recommended reductions, citing a global downward trend in petrol prices.
This move, supported by the Oil and Gas Regulatory Authority (Ogra), aligns with efforts to pass on the benefits of reduced global prices to consumers.