Govt reduces petrol prices massively before Eid ul Adha; Check latest rates here

ISLAMABAD: Prime Minister Shehbaz Sharif, following the reduction in electricity prices for industries, has announced a significant cut in petrol and diesel prices by Rs 10.20 per litre and Rs 2.33 per litre, respectively.

According to the details, the new price of petrol is now Rs 258.16 per litre, which is Rs 10.20 less than the previous price of Rs 268.36.

Similarly, High Speed Diesel (HSD) will be available at Rs 267.89 per litre, which is Rs 2.33 less than the previous price of Rs 270.22 per litre.

A fortnight ago, the government of Pakistan had reduced the prices of petrol and high-speed diesel by Rs 4.74 and Rs 3.86 per litre, respectively.

This latest cut brings the total relief provided to the public in petrol prices to Rs 35 per litre.

New Petrol & Diesel Rates from June 15 to June 30:

Earlier, it was reported that the government was expected to pass on the impact of lower international prices to consumers with cuts in petrol and high-speed diesel (HSD) prices.

According to the sources, the prices of gasoline and HSD in the international market have decreased by 3.75 dollars and 2.7 dollars per barrel, respectively, in the last two weeks.

Oil prices eased on Friday as markets assessed the impact of longer-than-expected US interest rate hikes.

Brent crude futures were down 42 cents, or 0.5 percent, at $82.33 a barrel. West Texas Intermediate (WTI) U.S. crude futures were down 51 cents, or 0.7 percent, at $78.11 a barrel.

Earlier on June 1, the government had announced to cut the petrol price by Rs 4.74 per litre and that of HSD by Rs 3.86 per litre, a PM Office press release said on Friday.