The federal government is considering a third consecutive decrease in petroleum product rates
The federal government is contemplating a reduction in petrol prices, marking the third consecutive decrease in petroleum product rates since July 31. Sources report that the proposal includes reductions of Rs 2.97 per liter for petrol, Rs 2.31 for high-speed diesel, Rs 1.39 for kerosene oil, and Rs 1.96 for light-speed diesel. The drop in international oil prices, with American crude oil falling by 3.60% and London Brent oil by 2.34%, is cited as the reason for the proposed cut.
Earlier, the government lowered prices as a gift to the people on Independence Day, with petrol reduced by Rs 8.47 and high-speed diesel by Rs 6.07 per liter. This move follows a previous reduction on July 31, where petrol and high-speed diesel prices were slashed by Rs 6.17 and Rs 10.86 per liter, respectively.
Overall, these reductions aim to provide relief to the public and reflect the government’s efforts to stabilize petroleum product prices in response to changing global oil trends.