The caretaker federal government has decided to slash the prices of petroleum products for the next fortnight.
The price of petrol has been cut by Rs. 2.04 per liter while the price of high-speed diesel has been slashed by Rs. 6.47 per liter. The new price of petrol will be Rs. 281.34 while the new price of high-speed diesel will be Rs. 296.71.
The government has also reduced the prices of kerosene and light diesel oil with the price of kerosene cut by Rs. 6.05 per liter to Rs. 204.98 while the price of light diesel oil has been reduced by Rs. 9.01 per liter to Rs. 180.45. The new prices will be effective from November 16 (Thursday).
It is pertinent to mention here that at the last fortnightly review of petroleum prices, the government also kept the prices unchanged.
Petroleum prices in the country are largely dependent on two factors i.e. international oil prices and the exchange rate. Since the start of November, international oil prices have come down, however, the Pakistani rupee has depreciated by 2.31 percent against the US Dollar during November.