The federal government Wednesday released renewed prices of petroleum products, where it reduced petrol's rate by Rs1.55 for the next 15 days.
The development comes after Federal Finance Minister Hammad Azhar had announced the government's decision to decrease the prices of petrol and diesel.
"This decision is not related to the ECC [meeting that took place] but the first decision we have taken, after consultations with the prime minister, we will reduce the prices of petrol and diesel," said Hammad Azhar during a news conference.
"The price of petrol will be slashed by Rs1.5 per litre while the price of diesel will be slashed by Rs3 per litre. We took this decision because now, we have some room due to a change in prices at the international market," he said.
The new rates are as follows:
| Product | Existing price | New price (wef from 01-04-2021) | Increase/Decrease |
| Petrol | 111.90 | 110.35 | -1.55 |
| High Speed Diesel | 116.08 | 113.08 | -3.00 |
| Kerosene | 83.61 | 82.06 | -1.55 |
| Light Diesel Oil | 81.42 | 79.86 | -1.56 |
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