ISLAMABAD: Good news for the people across the country, as the prices of petroleum products have been significantly reduced.
According to a notification issued by the Ministry of Finance, the price of high-speed diesel has been reduced by Rs 12.84 per liter, providing significant relief to consumers.
The new price of high-speed diesel has been fixed at Rs 272.99. The price of petrol per liter remains at Rs 264.61. The new price of kerosene oil has been fixed at Rs 178.27 per liter. The new price of light diesel oil has been fixed at Rs 162.37 per liter.
It has been decided to maintain the current petrol price for the next fortnight, which will provide stability to vehicle owners and the transport sector.
The notification states that the price of kerosene has been reduced by Rs 7.19 per liter, while a reduction of Rs 8.20 per liter has been announced in the price of light diesel oil.
The Ministry of Finance says that the new prices will be implemented from midnight tonight, after which the public will immediately start benefiting from this reduction.
| Products | Existing prices w.e.f. August 1 | New price w.e.f August 16 | Increase/Decrease |
| High Speed Diesel (HSD) | Rs285.83 | Rs272.99 | Rs-12.84 |
| MS (Petrol) | Rs264.61 | Rs264.61 | Rs+0.00 |
| Superior Kerosene Oil (SKO) | Rs185.46 | Rs178.27 | Rs-7.19 |
| Light Diesel Oil (LDO) | Rs170.36 | Rs162.37 | Rs-8.20 |
This decision has been taken in view of the decline in oil prices in the global market and the economic conditions of the country.
Experts say that this reduction in the prices of petroleum products will reduce inflationary pressures, reduce transport fares, and may also reduce the cost of essential goods. Public circles have termed this decision as a positive and timely step by the government, which can have a positive impact on the economy in the coming days.
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