The federal government has announced its decision regarding the petrol prices for the next fortnight across the country.

In a much-needed relief for the masses, Finance Minister Ishaq Dar on Saturday announced a decrease in the prices of petroleum products.

Under the revised prices announced by the finance minister, the price of petrol has been reduced by Rs. 9 per liter while the price of high-speed diesel has been cut by Rs. 7 per liter.

The new price of petrol will be Rs. 253 per liter while the price of high-speed diesel will be Rs. 253.50 per liter.

The petroleum prices will remain effective from 16 to 31 July. However, the finance minister did not announce any changes in the price of kerosene oil or light-diesel oil.

The minister said that the decrease in petroleum prices is due to the appreciation of the Pakistani Rupee against the US Dollar in the past weeks.

Dar explained that the strengthened value of the rupee against the US Dollar has offset the rise in oil prices, providing compensation.

He further stated that as the government had already included a portion of the petroleum development levy (PDL) in the prices implemented on July 1, no additional portion would be passed on in the latest price notification.

The Minister stated that the decision aligns with Prime Minister Shehbaz Sharif’s directive to prioritize providing relief to the people.

Source: Pro Pakistani