Federal Government Announces Decrease in Petrol Prices

In a positive development for the public, Finance Minister Ishaq Dar revealed a reduction in petrol prices during the upcoming fortnight. The revised prices entail a decrease of Rs. 9 per liter for petrol and Rs. 7 per liter for high-speed diesel.

As per the new pricing, petrol will cost Rs. 253 per liter, while high-speed diesel will be priced at Rs. 253.50 per liter. These revised prices will be effective from July 16th to July 31st. However, no changes were announced for kerosene oil or light-diesel oil prices.

Minister Dar attributed the decrease in petroleum prices to the recent appreciation of the Pakistani Rupee against the US Dollar, counterbalancing the international increase in oil prices. He emphasized that the strengthened value of the rupee has mitigated the impact of rising oil prices, resulting in this compensation.

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Furthermore, the finance minister clarified that since a portion of the petroleum development levy (PDL) had already been included in the prices implemented on July 1st, no additional portion would be incorporated in the latest price notification.

Minister Dar highlighted that this decision aligns with Prime Minister Shehbaz Sharif’s directive to prioritize providing relief to the people.