In its inaugural fuel price revision since taking office, the newly elected government made significant adjustments, maintaining the price of petrol while implementing a notable reduction in diesel prices for the upcoming fortnight.
The Ministry of Finance in an announcement made before midnight, confirmed the adjustment in diesel prices effective from March 16, in accordance with the recommendations put forth by the Oil and Gas Regulatory Authority (OGRA).
Despite the steady price of petrol at Rs.279.75 per liter, consumers will welcome a reduction in the cost of high-speed diesel by Rs.1.77, now priced at Rs.285.56 per liter.
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This decision reflects the government’s commitment to balancing economic stability with consumer affordability, particularly amidst fluctuations in global oil prices. The move to decrease diesel prices is poised to provide relief to various sectors reliant on diesel-powered vehicles and machinery, potentially alleviating financial burdens and stimulating economic activity.
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