On Wednesday, the federal government announced a reduction in petroleum product prices for the upcoming fortnight.
According to a notification from the finance ministry, petrol prices have been reduced by Rs. 15.39 per liter, bringing the new price to Rs. 273.10 per liter. High-speed diesel prices have also been cut by Rs. 7.88 per liter, now priced at Rs. 274.08 per liter. These new prices will take effect from May 16.
In a brief statement, the finance ministry explained that international market trends over the past fortnight have shown a decrease in petroleum prices. Consequently, the Oil & Gas Regulatory Authority (OGRA) adjusted consumer prices based on these international price variations.
During the previous fortnightly review, petrol prices were decreased by Rs. 5.45 per liter, and high-speed diesel prices were reduced by Rs. 8.42 per liter.
