ISLAMABAD: The federal government has cut petrol and high-speed diesel (HSD) prices in line with a decrease in international oil prices.
According to PM Houe, the petrol price has been slashed by Rs10.20 per litre, while HSD by s2.33 per litre.
The new prices will be enforced by midnight.
Since April 16, the federal government has decreased the petrol price by Rs24 per litre and diesel price by Rs20 per litre, in a bid to provide relief to the masses.
On May 31, the government slashed petrol price by Rs4.74 per litre and diesel price by RS 3.68. Currently, the petrol price stands at Rs268.36 per litre while diesel price is at Rs273.10 for the first fortnight of June 2024
According to sources, the prices of petrol and HSD had declined in the international market by about $3.75 and $2.7 per barrel, respectively, in the last two weeks.
Oil prices eased on Friday as markets evaluated the impact of U.S. interest rates staying higher for longer than anticipated.
Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.
