ISLAMABAD: In a relief to the inflation-struck masses, the caretaker government dropped the price of petrol by Rs2.04 per litre for the next fortnight.
In a statement on Wednesday, the Ministry of Finance said the government revised the fuel prices in line with the recommendation of the Oil and Gas Regulatory Authority (Ogra).
The per litre price of high-speed diesel (HSD) was also slashed by Rs6.47, while the prices of kerosene oil and light diesel oil were reduced by Rs6.05 and 9.01, respectively.
The new prices will be effective November 16 midnight and to remain in place till November 30.
| Products | Existing price | New price | Decrease |
| Petrol | Rs283.38 | Rs281.34 | Rs2.04 |
| High Speed Diesel (HSD) | 303.18 | 296.71 | Rs6.47 |
| Kerosene oil | Rs214.85 | Rs204.98 | Rs6.05 |
| Light diesel oil | Rs192.86 | Rs180.45 | Rs9.01 |
The caretaker government reduced the fuel prices after a month after keeping them unchanged for the last two fortnights.
The interim government is charging zero general sales tax (GST) on all petroleum products while the rate of petroleum levy (PL) on petrol and diesel is Rs60 per litre.
On October 16, the government had dropped the petrol price by Rs40 per litre and HSD by Rs15 per litre.
Diesel is widely used in the transport and agriculture sectors. The reduction in its price could bring inflationary impact down and relief for farmers as the crop-harvesting season has kicked off.
Initially, service available in Islamabad and Rawalpindi empowers customers, captains to bid and counter-bid fares
In November alone, the benchmark index has gained more than 8,500 points
In first phase, Honda BENLY e will be offered for test marketing
Pakistani rupee has lost 20% of its value against the dollar and analysts say that this will continue in 2024
VP Martin Raiser launches policy notes — focusing on child stunting, private sector, and energy among others
Benchmark KSE-100 index closes at 60,730.26 points after it gained 918.92