ISLAMABAD: The caretaker government slashed the price of petrol by Rs8 per litre for the next 15 days, providing some relief to the inflation-burdened masses.
Meanwhile, a cut of Rs11 has been announced in the diesel price, after which the new rate of the fuel will be Rs318.18 per litre.
| Product | Existing price w.e.f 16/9/2023 | New price w.e.f 1/10/2023 | Decrease |
| Petrol | 331.38 | 323.38 | -8 |
| Diesel | 329.18 | 318.18 | -11 |
The government has also slashed the rate of kerosene oil by Rs7.53 per litre to 237.28 and light diesel oil by Rs7.77 per litre to 212.45. The new prices of petroleum products have taken effect from this midnight.
The Ministry of Finance, in a statement, said the decision to bring down the price of petroleum products was taken after the Pakistani rupee gained value and POL rates dropped globally.
"In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products," the ministry said.
The prices of the commodities last witnessed a decrease in mid-July when petrol was dropped by Rs9 per litre to Rs253 and diesel by Rs7 to Rs253.50.
KSE-100 closes at 58,198.76 points after gaining 827.18 points
Dr Sohail Masood's business registered phenomenal annual growth of 30% to 40% year on year
The new UK national living wage increase is applicable for workers 23 years of age and older
OpenAI has appointed Emmett Shear, a former chief executive of Amazon's streaming platform Twitch, as its new CEO
China-Saudi Arabia Swap agreement to enhance bilateral financial cooperation
Rs5,000 note is used in terror and corruption activities, says PTI senator