Petrol price slashed by Rs8, diesel by Rs5

Govt says rates reduced to provide relief to consumers

ISLAMABAD:

The government reduced the price of petrol by Rs 8 per litre and the prices of the high-speed diesel (HSD) and the light diesel oil (LDO) by Rs5 for the next fortnight, an official announcement said on Wednesday.

Effective June 1, 2023 (today), the price of petrol would come down to Rs262 per litre from Rs270 per litre, registering a reduction of Rs8 per litre, the finance division said in a late-night statement.

Similarly, the HSD will now be sold at Rs253 per litre from the previous Rs258 per litre, and the LDO at Rs147.68 per litre, Rs5 down from the previous Rs152.68. According to the statement, there had been no change in the price of kerosene oil at Rs147.68 per litre.

The finance division said that government had decided to reduce the existing prices of petroleum products to provide relief to the consumers. Petrol is used in motorbikes and small cars and it is also an alternate to compressed natural gas (CNG).

The HSD is widely used in agriculture and transport sectors and the LDO is used in industry. The reduction in the HSD price will have healthy impact on farmers and may lead to cut in the cost of transportation of goods.

The kerosene oil is used in remote areas of Pakistan, especially the northern part of the country where the liquefied petroleum gas (LPG) is not available for cooking purpose. The army is also a key user of kerosene oil in northern part of the country.