ISLAMABAD: The federal government has announced a reduction of Rs5 per litre in the price of diesel, while keeping the petrol price unchanged for the next two weeks.
In addition, Finance Minister Ishaq Dar announced a reduction of Rs10 per litre each in the prices of Kerosene oil and Light Diesel Oil (LDO).
The new prices have been announced to provide “maximum relief” to the masses on the directions of Prime Minister Shehbaz Sharif, according to the finance minister. After the announcement, petrol will be available at Rs282, HSD Rs288, kerosene oil Rs176.07 and light diesel oil Rs164.68 per litre.
Diesel is a widely used fuel in the transport and agriculture sectors, and the price reduction could bring down the inflationary impact and provide relief for farmers as the crop-harvesting season has kicked off.
The low-income group, who own motorbikes and small cars, are already facing high prices. In the previous fortnight, the government increased the price of petrol by Rs10 and the price of kerosene oil by Rs5.78, citing the increase in petroleum prices in the international market and exchange rate variations.