Sources said that the drop in international oil prices has resulted in the proposed reduction, with American crude oil falling by 3.60% to $74.69 per barrel over the past two weeks and London Brent oil decreased by 2.34% to $74.69 per barrel.
ISLAMABAD: The government has announced a modest reduction in the prices of petroleum products, which will be effective from September 1, 2024.
The price of petrol has been reduced by Rs 1.86 per litre, bringing the new price to Rs 259.10, while the price of high-speed diesel will see a reduction of Rs 3.32 per litre, which is now priced at Rs 262.75.
After the recent change, the price of kerosene will drop by Rs 2.15 to Rs 169.62 per litre, while the price of light diesel oil will decrease by Rs 2.97 per litre, with the new price set at Rs 154.05.
It is worth mentioning here that the federal government was considering a reduction in the price of petrol, which would be the third consecutive reduction in the prices of petroleum products from July 31.
According to the sources, the proposal proposed to reduce the price of petrol by Rs 2.97 per litre, the price of high-speed diesel by Rs 2.31 per litre, the price of kerosene by Rs 1.39 per litre and the price of light speed diesel by Rs 1.96 per litre.
Sources said that the drop in international oil prices has resulted in the proposed reduction, with American crude oil falling by 3.60% to $74.69 per barrel over the past two weeks and London Brent oil decreased by 2.34% to $74.69 per barrel.
| Products | Existing price | New price | Increase/Decrease |
| MS (Petrol) | Rs260.96 | Rs259.10 | -1.86 |
| High Speed Diesel (HSD) | Rs266.07 | 262.75 | -3.32 |
PESHAWAR: Documents have been sought from employees who have completed 5 years of service for…
ISLAMABAD: The Meteorological Department has predicted rain with thundershowers in various cities. According to the…
ISLAMABAD: Pak Suzuki’s latest financing policy has released the prices of all Cultus variants, total…
RAWALPINDI: Farrukh Khokhar was arrested inside the courtroom on Monday after a Rawalpindi court sentenced…
ISLAMABAD: Preparations for reshuffle in the federal cabinet have been intensified, and the possibility of…
ISLAMABAD: Petroleum Minister Ali Pervaiz Malik has said that the prices of petroleum products in…