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Petrol price slashed by over Rs15

Price cut comes in light of major drop in fuel prices in int’l market.

ISLAMABAD;  Petrol price slashed by over Rs15. The federal government on Wednesday slashed the petroleum prices by up to Rs15.39 per litre for the next fortnight.

According to a notification issued by the Finance Ministry, the petrol price was decreased by Rs15.39 per litre and diesel price slashed by Rs7.88 per litre.

The decrease in petroleum prices would be a relief for the masses who are facing hyperinflation these days.

The new petrol price would be Rs273.10 per litre while diesel would be available at Rs274.08 per litre. The notification would be implemented from midnight.

This is the second relief in a row in the current month. On May 1, 2024, the authorities had reduced the petrol price by Rs5.45 per litre to Rs288.49 per litre from Rs293.94 per litre.

Similarly, the diesel price was also reduced by Rs8.42 per litre to Rs281.96 from Rs290.38 per litre on May 1.

Globally, petrol prices have fallen showing a positive market shift with government and industrial sources saying that Pakistan refineries and oil marketing companies hoped that the consumption of petroleum products will increase from May 16 because of the latest reduction in prices and halt in influx of smuggled petroleum products from Iran in the last 10 days.

Petrol price slashed by over Rs15,

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