The anticipated further reduction in the prices of petroleum products by Rs12 per litre from June 15 is welcome news for consumers and businesses alike. This move comes as global oil rates continue to decline, allowing the government to pass on the benefits to the public.
In the beginning of the month, the government had already reduced the prices of petrol and high-speed diesel (HSD) by significant amounts, providing relief to consumers. The new prices, after the previous reduction, made these essential fuels more affordable for the general populace. With the expected reduction, the prices of kerosene oil and light diesel oil (LDO) will also see a decrease, making these products more accessible to households relying on them for various purposes.
Read More: Pakistan Reduces Petrol Price By Rs 4.74/Litre For June 2024
The decision to reduce petroleum prices reflects the government’s commitment to alleviating the financial burden on the people, especially amid challenging economic circumstances. By passing on the benefits of declining global oil rates to the consumers, the government aims to stimulate economic activity and ease inflationary pressures. Overall, the anticipated reduction in petroleum prices demonstrates proactive measures by the government to address the needs of the public and support economic recovery efforts.
