In a gesture to celebrate Independence Day, the federal government has announced a significant reduction in petroleum product prices.
This move aims to provide relief to consumers across the country.
Petrol prices have been cut by Rs 8.47, bringing the new rate to Rs 260.96 per litre. High-speed diesel has also been reduced by Rs 6.07 per litre, with the new price set at Rs 266.07 per litre.
Initially, reports indicated a Rs 11 decrease for petrol and Rs 7 for diesel. The new prices will be effective from August 14.
This price adjustment is expected to lower transportation and production costs across the country.
The Ministry of Finance issued the notification following Prime Minister Shehbaz Sharif’s approval.
The final revised rates are Rs 269.43 per litre for petrol (a reduction of Rs 6.17) and Rs 272.77 per litre for diesel (a reduction of Rs 10.86).