The federal government is considering to decrease petrol price in order to gave relief to inflation hit people.
According to sources, the proposal suggests a cut in the price of petrol by Rs 2.97 per liter, high-speed diesel by Rs 2.31 per liter, kerosene oil by Rs 1.39 per liter, and light-speed diesel by Rs 1.96 per liter.
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Sources said that the drop in international oil prices has resulted in the proposed reduction, with American crude oil falling by 3.60% to $74.69 per barrel over the past two weeks and London Brent oil decreased by 2.34% to $74.69 per barrel.
Earlier, the federal government decrease the prices of petroleum products ‘as a gift’ to the people on the evet of Independence Day.
The price of petrol was reduced by Rs 8.47 to Rs 260.96 per litre. High-speed diesel reduced by Rs 6.07 per litre, making the new price Rs 266.07 per litre.
