Business Desk
Aug 14, 2024
Pakistan’s government has slashed the price of petrol by Rs8.47 per liter for the next 15 days, providing the much-needed relief to the people who have borne the brunt back-breaking inflation.
Prime Minister Shehbaz Sharif announced a significant reduction in petroleum product prices as a “gift to the nation on Independence Day”.
The price of petrol has been reduced by Rs8.47 per litre, bringing it down from Rs269.43 to Rs260.96.
Similarly, the price of diesel has been reduced by Rs6.7 per litre, lowering it from Rs272.77 to Rs266.07 per litre.
| Products | Existing price 01.08.2024 | New price 14.08.2024 | Increase/Decrease +/- |
| Petrol | Rs269.43 | Rs260.96 | - Rs8.47 |
| High-speed diesel | Rs272.77 | Rs266.07 | - Rs6.7 |
“The Oil [and] Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products, based on the price variations in the international market. The prices of Motor Spirit [and] HSD for the next fortnight, starting from 14th August 2024,” the notification issued by the Finance Division read.
The statement did not indicate any changes to the prices of light diesel oil or kerosene oil.
The fuel price cut comes as a major relief for the masses on the occasion of Independence Day, as the country gears up for the celebration of 77 years of independence today (August 14).
In the previous fortnightly review, the petrol price was slashed by Rs6.17 per litre. It may be noted that the petroleum development levy (PDL) remains unchanged despite the federal government increasing it by Rs10 per litre — from Rs60 to Rs70 — in the federal budget for 2024-25.
