Petrol price likely to reduce by Rs9 per litre ahead of Eid-ul-Adha

In a bid to provide relief to inflation-weary masses, the federal government is expected to decrease the prices of petroleum products for the next fortnight, sources said on Thursday.

Well-placed sources within the Finance Ministry said the price of petrol is likely to be slashed by Rs9 per litre from June 16.

The price of diesel is expected to be reduced by Rs4 per litre, sources added.

Kerosene oil may be decreased by Rs2 per litre for the next 15 days.

The price of petrol has reduced by $5.14 per barrel to $89 per barrel in the international market.

According to the sources, PM Shehbaz Sharif-led government will pass on the relief from the reduced international prices to the people struggling to make ends meet for their families.

In the last fortnight review, the prices of petrol and diesel were reduced by Rs4.74 per litre and Rs3.86 per litre, respectively.

The current prices of petrol and diesel are Rs268.36 per litre and Rs270.22 per litre, respectively.

However, the Ministry of Finance will announce the new prices on the night of June 15 after consulting with the premier.