The federal government is considering a reduction in petrol price, which will be a third consecutive decrease in petroleum products rates since July 31.
According to sources, the proposal suggests a decrease in the price of petrol by Rs 2.97 per liter, high-speed diesel by Rs 2.31 per liter, kerosene oil by Rs 1.39 per liter, and light-speed diesel by Rs 1.96 per liter.
Sources said that the drop in international oil prices has resulted in the proposed reduction, with American crude oil falling by 3.60% to $74.69 per barrel over the past two weeks and London Brent oil decreased by 2.34% to $74.69 per barrel.
Earlier, the federal government slashed the prices of petroleum products ‘as a gift’ to the people on the eve of Independence Day.
The price of petrol was reduced by Rs 8.47 to Rs 260.96 per litre. High-speed diesel reduced by Rs 6.07 per litre, making the new price Rs 266.07 per litre.
On July 31, the government slashed the prices of petrol and high-speed diesel (HSD) for the next fortnight by Rs6.17 and Rs10.86, respectively.
