The caretaker government led by Prime Minister Anwaarul Haq Kakar has recently announced a significant reduction in the prices of petrol and high-speed diesel (HSD) for the next two weeks. The price of petrol has been lowered by Rs40 per litre, while HSD has been reduced by Rs15 per litre.
The finance ministry issued a notification explaining that the decision to lower these prices was influenced by two key factors: the decreasing trend of petroleum prices in the international market and the strengthening of the Pakistani Rupee against the US dollar. As a result of these changes, the new prices are set at Rs283.38 per litre for petrol and Rs303.18 per litre for HSD. These revised prices will take effect from 12:00 am on the night of October 16 and will remain in place until October 31.
Notably, just two weeks prior to this adjustment, the interim government had already reduced the price of petrol by Rs8 per litre and HSD by Rs11 per litre for the following two weeks. The finance ministry, in a previous notification, had explained that these adjustments were made in response to fluctuations in international petroleum product prices and an improved exchange rate.
Following the earlier reduction, the price of petrol had been set at Rs323.38 per litre, and HSD had been priced at Rs318.18 per litre.
