The federal caretaker government has made s significant reduction in fuel prices in Pakistan. Fuel prices have been reduced up to 40 Rs per liter. Finally, some relief for the people of Pakistan who have been suffering economic crises for the last couple of years.
The new prices are effective from today, October 16th. Petrol price was 383.38 Rs per liter earlier, now it is reduced to 283.38 Rs per liter. The substantial price decrease in fuel came after fluctuation in International fuel prices and the strengthening of the Pakistan rupee against the dollar.
In the last couple of years, people have been suffering a lot due to the ongoing inflation. Overall inflation and fuel prices have hit Pakistani laymen immensely. Increases in fuel prices were regularly observed in the country in the last couple of years. A sudden drop in fuel prices at this time is a great relief for the Pakistani nation.
Liquified Natural Gas (LNG), is highly used in the retail industry in Pakistan, but in the last couple of years, there has been a major shortage in the supply of LNG in the country as well. Pakistani people are hoping that fuel prices remain controlled, as fuel prices impact overall inflation.
High-speed diesel (HSD) prices are also reduced by the caretaker government. After a reduction of 15 Rs per liter High-Speed Diesel prices have dropped to 303.18 Rs per liter from 318.18 Rs per liter. HSD is used mainly in agriculture and heavy transportation.
Kerosene Oil, whose consumption is very high, especially in winter in remote areas of the country. Prices of Kerosene Oil have reduced to 214.85 Rs per liter after a reduction of 22.43 Rs per liter.