In a relief to the inflation-weary masses, the caretaker government Saturday dropped the price of petrol for the next fortnight by Rs8, the first time in two-and-a-half-months.
Meanwhile, a cut of Rs11 has been announced in the diesel price, after which the new rate of the fuel will be Rs318.18 per litre.
New prices of the commodities has taken effect from this midnight.
The Ministry of Finance, in a statement, said the decision to bring down the price of petroleum products was taken after the Pakistani rupee gained value and POL rates dropped globally.
“In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products,” the the ministry said.
The government has also slashed the rate of kerosene oil by Rs7.53 per litre to 237.28 and light diesel oil by Rs7.77 per litre to 212.45.
The prices of the commodities last witnessed a decrease in mid-July when petrol was dropped by Rs9 per litre to Rs253 and diesel by Rs7 to Rs253.50.
