By ISLAMABAD: The federal government of Pakistan has announced a reduction in petrol price by Rs4.74 per litre, marking the third consecutive fortnightly review in response to falling global oil prices.
The price of petrol has now decreased to Rs268.36 per litre from the previous Rs273.10 per litre.
In addition, the price of high-speed diesel has been reduced by Rs3.86 per litre, bringing it down to Rs270.22 per litre from Rs274.08 per litre.
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A notification from the finance ministry explained, “The prices of petroleum products have seen a decreasing trend in the international market during the last fortnight.”
The Oil & Gas Regulatory Authority (OGRA) has adjusted the consumer prices based on these international market variations.
The new rates, providing relief to inflation-hit consumers, will take effect from 12am on June 1, according to a notification issued by the Finance Division on Friday.
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