National

Govt reduces petrol price by Rs4.74 per litre

New rates of petroleum products to be applicable from 12am on June 1, says Finance Division

By Web Desk

May 31, 2024

Employees at a fuel station attend to their customers in Islamabad, Pakistan, on February 16, 2022. — AFP/File

ISLAMABAD: The price of petrol has been reduced further by Rs4.74 per litre, the Finance Division said on Friday, making it the third successive fortnightly review drop.

The new petrol price stands at Rs268.36 per litre.

Meantime, the high speed diesel also has been slashed by Rs3.86 per litre to Rs270.22/lit from its previous price of Rs274.08/lit.

"The prices of Petroleum products have seen a decreasing trend in the international market during the last fortnight, states a notification from the finance ministry.

"The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market."

The new rates, which come as a relief for the inflation-hit masses, will be applicable from 12am on June 1, a notification from the Finance Division read.