Government Slashes Petrol Prices by Rs. 14, Diesel by Rs. 13.50
The federal government has declared a decrease in the price of petroleum products, which is a small solace for the masses who are suffering from inflation.
While high-speed diesel has had a price reduction of Rs. 13.50 per liter, petrol has seen a price reduction of Rs. 14. The price of high-speed diesel would increase to Rs. 276.21 per liter, while the price of gasoline will remain at Rs. 267.34 per liter.
Read More: Govt Likely to Share Good News on Petrol Price This Week
In a similar vein, the cost of light diesel oil has decreased by Rs. 11.29 to Rs. 164.64 and the cost of kerosene has decreased by Rs. 10.14 a liter to Rs. 191.02. The revised rates will take effect on December 16.
The Pakistan Bureau of Statistics (PBS) reports that the Sensitive Price Index (SPI)-based inflation for the week ending December 14, 2023, grew by 43% year over year. The recent large spike in gas prices is the main cause of the high weekly inflation rate, although consumers will also benefit from a small decrease in petroleum goods.
It is important to note that during the most recent fortnightly review, the caretaker government maintained the current price of gasoline while lowering the cost of high-speed diesel by Rs. 7 per liter.
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