For the next two weeks, the government has lowered the price of petrol by Rs15.39 per liter nationwide, which will greatly assist the people who are struggling with inflation.
The Finance Division said on Wednesday that the Oil and Gas Regulatory Authority (Ogra) had recommended the most recent drop in fuel prices.
Additionally, the cost of high-speed diesel has dropped from Rs281.96 to Rs274.08 per litre, a savings of Rs7.88.
For the upcoming two weeks, the following will be the new costs for high speed diesel and motor spirit:
According to a statement issued by the Finance Division, “the Oil and Gas Regulatory Authority (Ogra) has worked out the consumer prices, based on the price variations in the international market.”
According to the statement, the new fuel rates will take effect on Thursday, May 16.
According to the Finance Division, during the past two weeks, there has been a downward trend in the price of petroleum products on the global market.
This is the current month’s second consecutive relief. The motor spirit (MS) price was lowered by Rs5.45 per litre on May 1, 2024, from Rs293.94 per litre to Rs288.49 per litre.
In a same vein, on May 1, the price of fuel was also lowered by Rs8.42 per litre, to Rs281.96 from Rs290.38.
Globally, the price of gasoline has decreased, indicating a positive shift in the market. According to government and industry sources, Pakistani refineries and oil marketing companies anticipate higher oil consumption starting on May 16 as a result of the most recent price reduction and the cessation of the smuggling of petroleum products from Iran over the previous ten days.
