Reports fuel optimism about further cut in petrol prices
Business
Reports fuel optimism about further cut in petrol prices
ISLAMABAD (Web Desk) – The masses in the country have been grappling with economic hardships for the last one year or so.
Amid the trying times, the news about further cut in the prices of petroleum products offers some relief.
Reports do the rounds that petroleum prices may be slashed by up to Rs18 a litre due to exchange rate gains. This will be the third time in a row the caretaker government will slash the POL prices.
Rs40 cut on Oct 15
A fortnight ago, the government slashed the prices of petroleum products by Rs40.
After a significant drop from the rate of Rs323.38 per litre, the new price of petrol was Rs283.38 per litre.
Similarly, high-speed diesel (HSD) price was reduced to Rs15 per litre for two weeks. The new price was Rs291.18 per litre.
Previously, on Oct 1, the petrol price in Pakistan had been lowered by Rs8 per litre following a two-month increase, settling at Rs323.38 per litre.
During the same period, the price of high-speed diesel (HSD) had decreased by Rs11 per litre to Rs318.18, while kerosene oil prices had seen a reduction of Rs7.53 per litre, bringing it to Rs237.28.
Also Read: Transporters bound to reduce fares: Info minister
Caretaker Minister for Information and Broadcasting Murtaza Solangi said the transport operators were bound to reduce fares and freight charges as the government had significantly decreased prices of petroleum products.
The minister urged the provincial and district administrations to play their role to pass on relief to the masses.
In a post on X, Solangi said the government had reduced petrol and diesel prices by Rs40 and Rs15, respectively.
“Whenever prices of these products rise, the transport sector increases freight charges and transportation fares. Now, they (transporters) are bound to provide relief to the masses by reducing them,” the minister said in his post.
Prime Minister Anwaarul Haq Kakar also promised relief to the masses after drastic cut in petrol rates.
