ISLAMABAD:
The federal government has reduced the price of petrol by Rs7.06 per liter for the month of June in line with the dip in global crude oil prices due to virus-fuelled lockdowns.
Following the notification issued by the finance ministry on Sunday, the price of petrol has come down from Rs81.58 to Rs74.52 per litre.
The fuel is mainly used in cars and motorcycles.
However, the government regulator has slightly increased the price of high-speed diesel (HSD) from Rs80.10 to Rs80.15 per litre, which is mainly used in transport and agriculture sectors.
The meagre increase in the HSD price may have no impact on the inflation rate, which will directly benefit the public. With the start of crop harvesting season, the demand for diesel has increased, prompting the government to lift the ban on imports.
The price of kerosene oil has been slashed from Rs47.44 to Rs35.56 per litre. Kerosene is used for cooking, especially in far-flung areas where liquefied petroleum gas (LPG) or pipeline gas is not available.
The new prices will come into effect from June 1.
Soon after the announcement, Prime Minister Imran Khan, in a tweet from his official handle, said Pakistan has the "cheapest fuel cost compared to other states in South Asia".
"We have further reduced petrol, light diesel oil, kerosine oil prices. Now we have the cheapest fuel cost compared to other states in South Asia. India is almost exactly double. Bangladesh, Sri Lanka & Nepal are all 50 to 75 per cent more expensive than us."
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