In a noteworthy development aimed at alleviating concerns over inflation, the interim government has decided to implement a reduction in the prices of petroleum products for the upcoming two weeks.  

As of October 1, 2023, the price of petrol will see a substantial decrease of Rs8 per litre, resulting in a new rate of Rs323.38. Additionally, a price reduction of Rs11 per litre has been announced for diesel, bringing the revised rate to Rs318.18 per litre. 

This decision has been prompted by the strengthening of the Pakistani rupee and a global decrease in petroleum prices, as indicated by the Ministry of Finance in an official statement.  

RELATED STORIES

The Ministry stated, “In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products.” 

Furthermore, the government has taken steps to lower the cost of kerosene oil by Rs7.53 per litre, establishing a new rate of 237.28, while light diesel oil will witness a reduction of Rs7.77 per litre, resulting in a price of 212.45 per litre.