In a significant development, the federal government has announced a reduction in petrol and diesel prices effective from today, May 16, 2023.
An efficient reduction
The price of petrol has been slashed by Rs.12 per litre, bringing it down to Rs.270 from Rs.282 per litre for the next two weeks. Likewise, the cost of high-speed diesel has been decreased by Rs.30 per litre, resulting in a revised price of Rs.258 from Rs.288.
The government has also lowered the prices of light diesel and kerosene oil by Rs.12 each. Consequently, the price of light-diesel now stands at Rs.152.68 from Rs.164.68, while kerosene oil will be available at Rs.164.07 per litre, down from Rs.176.07.
Also read: FIA Arrests Suspect Involved In “Digital Fuel Theft” From Lahore
Finance Minister Ishaq Dar made the announcement during a televised press conference. The revised prices have already been put into effect, providing some relief to the general public and addressing concerns over escalating fuel costs.
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