In a move aimed at providing relief to the common man, Prime Minister Shehbaz Sharif-led government on Tuesday night announced a massive reduction in the prices of petroleum products.
According to a notification, the Prime Minister has approved a decrease of Rs 5.45 per liter in the price of petrol, while the price of diesel has been reduced by Rs 8.42 per liter.
According to the finance ministry, the new price of petrol is Rs288.49 per litre and Rs281.96 per litre for HSD.
“New prices of petroleum will be effective for next fortnight from May 1,” it added.
This move is expected to bring significant relief to citizens, who have been bearing the brunt of high fuel prices for quite some time.
The reduction in fuel prices is also likely to have a positive impact on the overall economy, as it will lead to a decrease in transportation costs and subsequently, prices of essential commodities.
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