For the second time this month,Government Cuts Petrol and Diesel Prices Again.
On Saturday, the government revealed that the price of petrol will be reduced by Rs. 1.86 per liter, bringing it down to Rs. 259.1 per liter. Similarly, the price of high-speed diesel will decrease by Rs. 3.32 per liter, making the new price Rs. 262.75 per liter. These new prices will take effect from September 1.
The reason for this price cut is the ongoing drop in global oil prices.
In the past two weeks, the extra cost for importing petrol has dropped by about 50 cents per barrel, bringing it down to $8.50 per barrel. On the other hand, the extra cost for importing high-speed diesel has stayed the same at $5 per barrel.
The exchange rate has remained stable at 278 Pakistani Rupees for every US dollar.
It’s also important to note that in the previous review of fuel prices two weeks ago, the government lowered the price of petrol by Rs. 8.47 per liter and reduced the price of high-speed diesel by Rs. 6.7 per liter.
