ISLAMABAD: The federal government on Tuesday announced a reduction in prices of all petroleum products for next fortnight.
A statement issued by the Finance Division the new reduced prices will take effect from September 01, 2021.
According to the notification the price of petrol has been reduced by Rs1.50 to Rs118.30 per liter from Rs119.80.
The price of high speed diesel (HSD) has been reduced by Rs1.50 to Rs115.03 per liter from Rs116.53.
Similarly, the rate of kerosene oil has been reduced by Rs1.50 to Rs86.80 per liter from Rs88.30.
The price of light diesel has been reduced by one rupee to Rs84.77 per liter from Rs85.77.
The statement issued by the finance division said that despite international price fluctuation in petroleum products and anticipated increase in future prices, the government has reduced the price in order to provide maximum relief to the consumer.
The government is firmly committed to ensure stability in prices of essential commodities and has sustained the price pressure in line with its commitment to the common man.
It is pertinent to mention that petroleum levy is kept at minimum which is a clear reflection that the government is fully cognizant of the impact of fuel prices on the prices of basic items that affect people directly.