ISLAMABAD: The government has reduced up to 25 percent the consumer prices of petroleum products for the month of June 2020.
A statement on Sunday said that price up to 25 percent or Rs11.88 has been reduced on sale of kerosene oil to Rs35.56 per liter from Rs35.56/liter.
The rate of light diesel oil has been reduced by Rs9.01 or 19.72 percent to Rs38.14 per liter from Rs47.51 per liter.
Similarly, price of petrol has been reduced by Rs7.06 or 8.65 percent to Rs74.52 per liter from Rs81.58 per liter.
However, the price of high speed diesel is remained flat at Rs80.10 per liter with nominal increase of five paisas.
A statement issued by the finance division said that despite the global trend of increasing prices of the petroleum products, the government has decided to extend further relief in petroleum prices to the public.
These prices shall be applicable from of June 01, 2020.
The sharp reduction in petroleum prices was expected to provide significant relief to consumers, transporters, and industrial sectors already struggling with the economic slowdown caused by the COVID-19 pandemic. Analysts believed the lower fuel costs would help ease inflationary pressure and reduce transportation expenses across the country. Economists also viewed the move as an effort by the government to support economic activity and improve public confidence during challenging times.
