Govt slashes price of petrol by Rs 3.05 per litre

Govt slashes price of petrol by Rs 3.05 per litre

ISLAMABAD (Agencies): Finance Minister Miftah Ismail on Sunday announced a reduction in the price of petrol by Rs 3.05 per litre and a hike of Rs8.95 in the price of diesel. “The government is able to decrease the price of petrol by Rs 3.05 per litre,” he tweeted. “The price of diesel has however gone up by Rs 8.95.” He said that the new prices will be effective from midnight tonight.
The price of Kerosene was similarly increased by Rs4.62 per litre while that of LDO was reduced by Rs0.12 per litre. The new prices are as follows: Rs227.19 for petrol, Rs244.95 for diesel, Rs201.07 for Kerosene and Rs191.32 for LDO. According to a press release he shared from the Finance Division, the government had decided to revise the existing prices of petroleum products to pass on the impact of fluctuations in petroleum prices in the international market and exchange rate variation. Senior government officials had said that both major petroleum products HSD and petrol – were set to go down significantly with effect from August 1, but three major factors — currency depreciation, higher PDL and increase in dealer commission — deprived the consumers of the benefit of the international price cut.

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