Government lowers gasoline prices by Rs. 5 per litre

The decision was announced by Finance Minister Ishaq Dar while addressing a press conference.

The new price of petrol will be Rs. 267 per litre while the price of HSD will stay at Rs. 280 per litre.

The price of kerosene oil would also be reduced by Rs. 15 per litre, to Rs. 187.73 per litre, according to government announcements. Similarly, the price of light diesel oil has been dropped by Rs. 12 per litre and the new price will now be Rs. 184.68 per litre.

The government significantly increased the cost of petroleum products at the previous fortnightly review, driving up the cost of both gasoline and diesel to all-time highs.

The government blamed the devaluation of the Pakistani Pound for the increase, which saw the price of gasoline rise by Rs. 22.20 per litre and the price of high-speed diesel (HSD) by Rs. 17.20 per litre. Kerosene and light diesel oil prices had also been raised by the government.

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