Govt cuts petrol price by Re1 per litre

The federal government has announced revised prices for petroleum products, effective for the next 15 days, according to a notification issued by the Federal Ministry of Finance.

Under the new pricing schedule, the cost of petrol has been reduced by Rs1 per liter, setting the new price at Rs 256.13 per liter. 

In addition, high-speed diesel has seen a reduction of Rs4 per liter. The price of light diesel oil has been lowered by Rs5.25 rupees per liter, while kerosine oil is now Rs3.20 cheaper per liter.

Officials stated that these adjustments are part of ongoing measures to stabilize fuel prices amid global market fluctuations.

The move is expected to provide some relief to consumers by moderating the cost of essential petroleum products.

The detailed notification from the Federal Ministry of Finance outlines the new rates and confirms that the revised prices will remain in effect for the specified period.

Authorities have advised consumers to refer to official channels for any further updates regarding fuel pricing policies.

This decision is seen as a step towards ensuring economic stability in the domestic market, as the government continues to monitor international oil prices and adjust domestic rates accordingly.