Petrol price reduced by Rs1.50

ISLAMABAD: The federal government has decided to reduce the prices of petroleum products in the country, a notification from the Finance Division in this regard said Wednesday.

The government has reduced the price of petrol by Rs1.50 per litre, high speed diesel by Rs3, kerosene by Rs1.55, and the rate of light diesel oil has been slashed by Rs1.56 per litre. The development comes after Federal Finance Minister Hammad Azhar had announced the government’s decision to decrease the prices of petrol and diesel.

“This decision is not related to the ECC [meeting that took place] but the first decision we have taken, after consultations with the prime minister, is that we will reduce the prices of petrol and diesel,” said Hammad Azhar during a news conference.

“The price of petrol will be slashed by Rs1.5 per litre while the price of diesel will be slashed by Rs3 per litre. We took this decision because now, we have some room due to a change in prices at the international market,” he said.