The government on Thursday slashed prices of petrol by Rs 18.50 per liter, which now would be sold at the rate of Rs 230.24 with effect from July 15 against its current sale at Rs 248.74 per liter.
According to press statement issued by the finance ministry, the prices were revised to pass on the benefits of the declining prices of petroleum products in the international market.
“In line with the decision of the Prime Minister of Pakistan to pass on the benefits of declining price trend of petroleum products in the international market and provide relief to the masses, the existing prices of petroleum products are revised,” the statement added.
Accordingly, the prices of diesel have also been reduced by Rs 40.54 per liter, from Rs 276.54 to Rs 236, the statement added.
Likewise, the prices of kerosene oil have been reduced from Rs 230.26 to Rs 196.45, a decline of Rs 33.81 per liter while the prices of light diesel oil have been slashed from Rs 226.15 to Rs 191.44, a decrease of Rs 34.71 per liter.
Meanwhile, Federal Minister for Finance and Revenue, Miftah Ismail also shared new rates of petroleum products on his twitter account. “PM has just announced reduction in the prices of petrol of Rs 18.5/litre & in diesel of Rs 40.54/litre. The new price of petrol is Rs 230.24 & diesel is Rs 236/litre from 15/7. Kerosene is reduced by Rs 33.81 to Rs 196.45 & LDO is reduced by Rs 37.71 to Rs 191.44. Alhamdolillah,” Miftah tweeted.
The minister also shared ‘Fact Check: Brent crude oil prices’ showing fluctuation in prices of petroleum products in the international market.
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