Clarification issued: Petrol price reduced by Rs4.74 per litre, not Rs15.39

The Ministry of Finance has announced a reduction in fuel prices, decreasing petrol by Rs4.74 per litre and high-speed diesel (HSD) by Rs3.86 per litre. This announcement followed initial confusion regarding the extent of the cuts.

The confusion arose after PTV reported that Prime Minister Shehbaz Sharif had directed a more substantial reduction of Rs15.4 per litre for petrol and Rs7.9 per litre for diesel for the upcoming fortnight.

This premature report was posted on PTV’s official X account but was later retracted.

The Prime Minister’s Office soon issued a clarification, stating that the figures reported by PTV were outdated and pertained to the previous month’s adjustments. Following this clarification, the Finance Ministry released its fortnightly notification confirming the new, more modest reductions.

PTV had claimed that the government’s “people-friendly policies” had brought economic stability and achieved a noticeable reduction in inflation.

Initially, it was expected that the prices of petrol and HSD would decrease by approximately Rs6.5 to Rs7.5 per litre on May 31, despite a slight exchange rate loss due to a bearish trend in the international market.