In
a significant move, the federal government has reduced the cost of petrol by
Rs40 and high-speed diesel (HSD) by Rs15, aligning with the shifts in global
oil prices and the strengthening of the Pakistani Rupee against the US Dollar.
A statement from the finance ministry explained, "In response to the
declining trend of international petroleum prices and the appreciation of the
Pakistani Rupee against the US Dollar, the government has opted to amend the
prevailing consumer prices of petroleum products."
Subsequent
to this decision, the new price for petrol has been established at Rs283.38 per
liter, while HSD is now attainable at Rs308.18 per liter. These adjusted rates
will be effective from midnight.
It
is worth noting that petrol is predominantly utilized in motorcycles and
automobiles, serving as an alternative to compressed natural gas (CNG), particularly
in Punjab, where locally produced gas is unavailable at CNG refilling stations.
On the other hand, HSD plays a primary role in the agriculture and
transportation sectors, and any decrease in its price is likely to have a
positive impact on inflation.
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