Business

Govt slashes petrol price by Rs8 per litre

A cut of Rs11 per litre has been announced in diesel price, after which new rate of fuel will be Rs318.18

By Saifur Rahman
September 30, 2023
Motorcyclists can be seen at a petrol pump in Multan, on July 19, 2023. — APP
Motorcyclists can be seen at a petrol pump in Multan, on July 19, 2023. — APP

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. 

ProductExisting price w.e.f 16/9/2023New price w.e.f 1/10/2023Decrease
Petrol331.38323.38-8
Diesel329.18318.18-11

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.