Govt Drops Petrol Price: Rs. 8/Liter Decrease

Jawad

01 Oct 2023

297

Govt Drops Petrol Price: Rs. 8/Liter Decrease

In a move that brings much-needed relief to the general public, the Pakistani government has announced significant reductions in petrol and diesel prices. As per the latest updates, the price of petrol will see a substantial decrease of Rs. 8/liter, making it Rs. 323.38/liter. High-speed diesel (HSD) is also following suit with a noteworthy cut of Rs. 11/liter, bringing its new price down to Rs. 318.18/liter.

The decision, according to the Finance Division, comes in response to the strengthening of the Pakistani rupee against the US dollar and fluctuations in international petroleum product prices. The government of Pakistan, recognizing these economic factors, has opted to revise the consumer prices of petroleum products.

Furthermore, this reduction in fuel costs extends to other essential fuels as well. Kerosene oil now comes at a more affordable price of Rs. 237.28 after a decrease of Rs. 7.53 per liter, while light diesel is priced at Rs. 212.45 after a decrease of Rs. 7.77 per liter.

Gari.pk
UPDATED FUEL PRICES
FROM OCT, 1^ST , 2023
PRODUCT	OLD PRICES	NEW PRICES	CHANGE
PETROL	331.38	323.38	-8
DIESEL	329.18	318.18	-11

Recent Trends in Petrol Prices

These price reductions come on the heels of a significant price hike on September 15th, when petrol prices surged by Rs. 26 and HSD prices increased by Rs. 17. These consecutive spikes had pushed petrol prices to historic highs, posing a financial challenge for the daily budgets of citizens.

The reasons behind these past hikes have ranged from compliance with International Monetary Fund (IMF) programs to reactions to the volatile global oil market. However, the latest decrease in prices is attributed to the complex interplay between the exchange rate and the resilient Pakistani rupee's performance against the formidable US dollar.

Are you feeling relieved by these new developments? We invite you to share your thoughts and comments below!

Petrol Prices Pakistani Government Fuel Price Reduction Diesel Prices Economic News Petroleum Products Rupee Exchange Rate Consumer Prices Energy Costs Economic Relief

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