People wait for their turn to get fuel at a petrol station in Peshawar on January 30, 2023. Photo: Reuters/ File
The government has announced a reduction in the prices of petroleum products, offering relief to the public as the New Year approaches. The price of petrol has been reduced by Rs10.28 per litre, bringing the new cost to Rs253.17 per litre.
Additionally, the price of high-speed diesel (HSD) has been slashed by Rs8.57 per litre, with the new price set at Rs257.08 per litre. The Petroleum Division issued a notification confirming these changes, stating that the new prices will be effective from midnight tonight and will remain in place until January 15, 2026.
The price reduction comes at a time when consumers across Pakistan have been facing mounting financial pressures due to inflation and rising living costs. With the New Year celebrations approaching, this move by the government is expected to provide some much-needed relief to the public.
The reduction in fuel prices will not only affect consumers directly but is also expected to have a ripple effect across various sectors, including transportation and logistics. The new prices will make fuel more affordable for businesses and individuals alike, potentially lowering transportation costs and easing supply chain pressures.
This decision follows a series of adjustments to petroleum prices in recent months, as the government continues to balance the impact of international oil price fluctuations with the needs of the domestic economy.
