After three massive hikes on the previous fortnightly reviews, the caretaker government finally announced a slight reduction in the prices of petroleum products.
According to a notification issued by the Finance Division, the price of petrol has been cut by Rs. 8 per liter while the price of high-speed diesel has also seen a decrease of Rs. 11. The new price of petrol will be Rs. 323.38 per liter while the new price of high-speed diesel will be Rs. 318.18 per liter.
— Ministry of Finance, Government of Pakistan (@Financegovpk) September 30, 2023
In a short statement, the Finance Division said that the prices have been cut due to the improvement in the exchange rate.
At the last review of petroleum prices, the interim government increased the price of petrol by Rs. 26.02 per liter to Rs. 331.38., while the price of high-speed diesel was jacked up by Rs. 17.34 per liter to Rs. 329.18.
Earlier on September 1, the government increased the price of petrol by Rs. 14.91 per liter and the price of high-speed diesel by Rs. 18.44 per liter.
Moreover, on August 15, the caretaker government increased the price of petrol by Rs. 17.50 per liter while the price of high-speed diesel was jacked up by Rs. 20 per liter.