In a modest respite for a populace grappling with inflation, the federal government has declared a reduction in the prices of petroleum products. The cost of petrol has undergone a decrease of Rs. 14 per liter, and high-speed diesel sees a cut of Rs. 13.50 per liter. Consequently, the revised price for petrol stands at Rs. 267.34 per liter, and high-speed diesel is now priced at Rs. 276.21 per liter.
Similarly, kerosene witnesses a dip of Rs. 10.14 per liter, settling at Rs. 191.02, while light diesel oil experiences a reduction of Rs. 11.29, reaching Rs. 164.64. These adjusted prices will take effect from December 16.
Amidst a backdrop of a 43 percent year-on-year surge in the Sensitive Price Index (SPI)-based inflation for the week concluding on December 14, 2023, as reported by the Pakistan Bureau of Statistics (PBS), the recent noteworthy escalation in gas charges is identified as a predominant factor. Nonetheless, the marginal reduction in petroleum product prices is anticipated to offer some solace to consumers.
It’s noteworthy that during the preceding biweekly review, the caretaker government opted to maintain the petrol price status quo while implementing a Rs. 7 per liter reduction in the price of high-speed diesel.
