Petrol price cut by Rs1.8, diesel by Rs2.5 per litre

ISLAMABAD: The government has slashed down prices of petrol and diesel with effect from August 6, 2017.

Finance Minister Senator Ishaq Dar here on Saturday announced petroleum prices to be effective from 06.08.2017 to 31.08.2017.

The finance minister said it had been decided with the approval of the prime minister that the price of petrol will be decreased by Rs1.80/litre and price of diesel will be decreased by Rs2.50/litre. The new prices will be Rs69.50/litre for petrol and Rs77.40/liter for diesel (HSD).

The finance minister said that rates of kerosene oil and LDO will not be increased even though substantial increase had been recommended in their prices. He said considering the low income consumers using these products it had been decided to maintain their prices at the current level (i.e. Rs44 per liter).

The minister added that the decision to revise the prices for the month of August could not be taken on 31.07.2017 as there was no Federal Cabinet on that date.

The prices during the first five days of August, therefore continued at the level prevalent in July 2017.