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Price of Petrol Drops by Rs 08/L

In a move aimed at providing much-needed relief to the public, the Finance Minister announced a significant reduction in petrol prices. The decision comes as a response to international market trends and the government’s commitment to adjusting petrol prices accordingly. The drop in petrol prices, effective from midnight on June 1, 2023, amounts to a decrease of Rs. 8 per liter, bringing the new rate down to Rs. 262. This announcement follows a period of unchanged petrol prices since April 30.

petrol new prices

Fuel TypeOld PriceNew PriceDifference

High-Speed Diesel (HSD) 

PKR 258.00PKR 253.00-05

Petrol

PKR 270.00PKR 262.00-08
Fuel TypeOld PriceNew PriceDifference

High-Speed Diesel (HSD) 

PKR 258.00PKR 253.00-5

Petrol

PKR 270.00PKR 262.00-8

In addition to the petrol price drop, diesel prices will also witness a substantial decrease of Rs. 4 per liter, resulting in a revised cost of Rs. 253 per liter. This reduction in diesel prices can benefit industries that heavily rely on diesel, such as manufacturing and agriculture, potentially leading to reduced production costs and, subsequently, lower prices for goods and services.

Impact on Consumers:

The reduction in petrol prices is expected to bring relief to consumers who have been burdened by high living costs. Lower fuel prices can positively impact various sectors of the economy, particularly transportation. The Finance Minister urged transporters and other diesel-consuming industries to pass on the benefits to consumers by reducing fares. This move aims to ensure that the advantages of the price drop reach all segments of society.

Government's Measures:

The government’s decision to lower petrol prices aligns with its proactive approach in addressing economic challenges. By reducing fuel prices, the government aims to provide some relief to consumers who have been facing the burden of high living costs. The move also aims to boost economic activities by stimulating demand and consumption.