Petrol price slashed by Rs5.45 per litre

In a minor relief to inflation-hit people, the government has slashed fuel prices for the next fortnight, according to a notification released by the finance ministry. 

According to details, the fuel prices were slashed for the next fifteen days. Petrol price was slashed by Rs5.45 per litre, while diesel rate was slashed by Rs8.42 per litre.

The petrol price has been slashed to Rs288.49 from Rs293.94 for the next fortnight in line with the recommendations of the Oil and Gas Regulatory Authority (Ogra).

The decline is expected due to a recent drop in the commodity in the international market.

The government adjusts the prices of petroleum products every 15 days based on the recommendations of the Oil and Gas Regulatory Authority (OGRA).

In the last two fortnight reviews, the government had hiked the price of petrol by Rs14.19 per litre

The Ministry of Finance  issued the notification of new fuel prices after approval from Prime Minister Shehbaz Sharif.