The federal government Tuesday announced a reduction in the prices of petroleum products.
According to a notification issued by the finance ministry, the price of petrol has been decreased by Rs. 5.45 per liter to Rs. 288.49, while the price of high-speed diesel has been cut by Rs. 8.42 per liter to Rs. 281.96. The new prices will be applicable from May 1.
In a short statement, the finance ministry said that the prices of petroleum products have seen a decreasing trend in the international market during the last fortnight and the Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations.
At the last fortnightly review of petroleum prices, the price of petrol was increased by Rs. 4.53 per liter, while the price of high-speed diesel went up by Rs. 8.14 per liter.