Finance Minister Ishaq Dar Announces Reduction in Petrol and Diesel Prices in Pakistan.

 On Wednesday, Finance Minister Ishaq Dar announced a reduction in the prices of petrol and high-speed diesel (HSD) in Pakistan. The price of petrol was reduced by Rs8 per litre, bringing it to Rs262 per litre. The price of HSD was reduced by Rs5 per litre, making it Rs253 per litre. The price of light diesel oil (LDO) was also reduced by Rs5 per litre to Rs147.68. However, the price of kerosene oil remained unchanged at Rs164.07.

In a video address, the finance minister explained that there had been no significant changes in international petroleum product prices over the past 15 days, and the value of the Pakistani rupee had not appreciated against the dollar. Despite this, the government aimed to provide relief to the people and made efforts to create room for reducing prices.

These price cuts followed a previous round of reductions on May 15, where the prices of petrol, HSD, and LDO were reduced by Rs12, Rs30, and Rs12 per litre, respectively.

During the announcement, the finance minister also appealed to transporters and other sectors that use diesel to pass on the benefits of lower prices to the public in the form of reduced fares. The intention was to ensure that every segment of the economy could benefit from these developments.