Petrol price slashed by Rs1.5 per litre

The federal government has reduced the price of petrol by Rs1.5 per litre for the next fortnight effective September 1.

The rates of high-speed diesel (HSD) and kerosene have also been slashed by Rs1.5 per litre and that of light diesel oil (LDO) by Rs1 per litre.

The new rates will remain effective till September 15.

According to a notification issued by the Finance Division, the new price of petrol will be Rs118.3 per litre against the previous price of Rs119.8 per litre.

The new price of HSD, which is majorly used by the agriculture and transport sectors, will be Rs115.03 per litre against Rs116.53 per litre.

Kerosene will be sold at Rs86.8 per litre against Rs88.3 while the new price of LDO is fixed at Rs84.77 per litre against Rs85.77 per litre.

Kerosene oil is used by the Pakistan armed forces and in remote areas like northern parts of the country for cooking purposes where LPG is not available.

“Despite international price fluctuations in petroleum products and anticipated increase in future prices, the government has reduced the prices in order to provide maximum relief to the consumers,” read the notification.

 “The government is firmly committed to ensure stability in prices of essential commodities and has sustained the price pressure in line with its commitment to the common man,” it added.

“It is pertinent to mention that petroleum levy is kept at a minimum which is a clear reflection that government is fully cognisant of the impact of fuel prices on the prices of basic items that affect people directly”.

The Petroleum Division had recommended a reduction by up to Rs5 per litre in fuel prices, sources privy to the development told The Express Tribune.