The federal government has notified the new prices of petroleum products for the next fortnight.
According to the notification issued by the Ministry of Finance, the price of petrol has been decreased by Rs. 1 to Rs. 256.13 per liter while the price of high-speed diesel has also been decreased by Rs. 4 per liter to Rs. 263.95.
This is the first fortnightly decrease in the price of petrol after three consecutive hikes. The new prices will be applicable from February 16 (today).
The Finance Division said the new prices have been adjusted in view of recent fluctuations in the international oil market.
At the last fortnightly review of petroleum price, the government raised the price petrol by Rs. 1 to Rs. 257.13 per liter while the price of high-speed diesel was increased by Rs. 7 per liter to Rs. 267.95.