The federal government has slashed the price of petrol by Rs8 per litre effective midnight, bringing much needed relief to motorbike riders and car owners in the country. In a televised video message late Wednesday evening, Finance Minister Ishaq Dar said that the government has also reduced the price of high-speed diesel, widely used in the agriculture and transport sectors, by Rs5 per litre. Read more: Substantial cut in POL prices announced The government also decreased the price of light diesel oil (LDO), also used in industry, by Rs5 per litre, whereas the price of kerosene oil remains unchanged. "During the past 15 days, neither was there any significant change in international oil prices, nor did the rupee value rise against the dollar. However, we tried our best to still pass on the benefit to the people,” Dar said. وزیر خزانہ اسحاق ڈار کا ڈیزل کی قیمت میں 5 روپے اور پٹرول کی قیمت میں 8 روپے کمی کا اعلان pic.twitter.com/3raUi7SgBy — PMLN (@pmln_org) May 31, 2023 Following the latest reduction in the prices of petroleum products, high-speed diesel will be sold at Rs 253 per litre, while petrol will be available at Rs262 per litre. Dar said that the new prices would be implemented from June 1, 2023 and will stay in effect until midnight of June 15, 2023. The latest cut in POL prices comes a fortnight after the government, on May 15, announced a massive reduction of Rs12 per litre in the price of petrol, Rs30 in the price of diesel, and Rs12 in the per litre price of kerosene oil.
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