The price of petrol in Pakistan

Speaking to the country, the PM declared that the price of petrol has been lowered by Rs11.83 per litre, making the new rate Rs366.58 per litre. The action is intended to give consumers some respite from the severe economic strain.

In the meantime, the price of diesel has also been lowered by Rs134.81 per litre; the new price is Rs385.54 per litre.

The updated tariffs for petrol and diesel will take effect nationwide at midnight, according to officials.

As part of the government’s ongoing attempts to lessen inflationary pressure on the populace, Prime Minister Shehbaz Sharif ordered that fuel prices be adjusted in accordance with global market trends.

Following a worldwide gasoline crisis brought on by the Iran War, the government had already declared a significant increase in the price of fuel and diesel. Federal Finance Minister Muhammad Aurangzeb and Minister of State for Finance Ali Pervaiz Malik made the news at a press conference.

While the price of diesel was raised by Rs184 per litre to Rs520.35 per litre, the price of petrol was increased by Rs138 per litre to Rs458.40 per litre.

However, Prime Minister Shehbaz Sharif approved a temporary relief plan a day after the historic increase in petrol prices, with the goal of relieving public pressure by cutting fuel prices.

Later, Pakistani Prime Minister Shehbaz Sharif reduced the price of petrol by Rs. 80 to Rs. 378 a litre.

The Prime Minister announced austerity measures in addition to the gasoline adjustment, saying that cabinet members’ salaries and benefits will be withheld for six months in an effort to control financial strains and exhibit fiscal restraint.