The federal government has announced significant reductions in the prices of petroleum products for the upcoming two weeks. According to a notification issued by the finance ministry, the price of petrol has been lowered by Rs. 15.39 per liter to Rs. 273.10, while the price of high-speed diesel has been reduced by Rs. 7.88 per liter to Rs. 274.08. These adjusted prices will take effect from May 16.
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In a brief statement, the finance ministry noted that international petroleum prices have been on a downward trend over the past two weeks. The Oil & Gas Regulatory Authority (OGRA) determined the new consumer prices based on these international market fluctuations.
During the previous review of petroleum prices, the price of petrol was decreased by Rs. 5.45 per liter, and the price of high-speed diesel was lowered by Rs. 8.42 per liter.
