ISLAMABAD: The government is expected to announce a further reduction in the prices of petroleum products by Rs12 per litre from June 15, following a declining trend in global oil rates.
At the beginning of this month, the government already reduced the prices of petrol and high-speed diesel (HSD) by Rs4.74 and Rs3.84 per litre, respectively. Consequently, the price of petrol is now Rs268.36 per litre, down from its previous rate of Rs273.10. Similarly, HSD is available at Rs270.22 per litre, reduced from Rs274.08.
In addition, the prices of kerosene oil and light diesel oil (LDO) were decreased by Rs1.87 and Rs3.88 per litre, respectively. Kerosene oil now costs Rs171.61 per litre, down from Rs173.48, while LDO is available at Rs157.29 per litre, reduced from its previous rate of Rs161.17.
According to sources, the anticipated reduction in petroleum product prices comes as international oil rates have fallen by $5.14.
Overall, the government has decreased the prices of petrol and HSD by Rs24 and Rs20 per litre, respectively, reflecting ongoing adjustments to global market trends.
