The federal government announced a decrease in the price of petroleum products on Wednesday.
Finance Minister Ishaq Dar made the news at a press briefing. The price of petrol has dropped by Rs. 8 per liter, while the price of high-speed diesel (HSD) has been reduced by Rs. 5 per liter. The new petrol and HSD pricing will be Rs. 262 and Rs. 253 per liter, respectively.
The price of light diesel oil (LDO) has also been reduced by Rs. 5 per liter, to Rs. 147.68, while the price of kerosene oil remains fixed at Rs. 164.07. The new prices will take effect at midnight.
The government dropped the price of all petroleum products in the most recent weekly review, with petrol falling by Rs. 12 per liter and high-speed diesel (HSD) falling by Rs. 30 per liter.
The increase in the price of petroleum products, such as gasoline and HSD, during the last year has been a major contributor to the high weekly inflation. According to the most recent Pakistan Bureau of Statistics (PBS) statistics, weekly inflation was 45.49 percent year on year (YoY) for the week ending May 25, 2023.
