Government Reduces Fuel Prices: Petrol Down by Rs1.86, HSD by Rs3.32 per Litre

On Saturday, the federal government announced a reduction in fuel prices, with petrol now costing Rs1.86 less, bringing the price to Rs259.10 per litre. High-speed diesel (HSD) also saw a decrease of Rs3.32 per litre, now priced at Rs262.75. These new rates take effect from midnight tonight.

Additionally, kerosene oil has been reduced by Rs2.15 per litre, lowering the price to Rs169.62. Light diesel oil also saw a Rs2.97 reduction, now priced at Rs154.05 per litre.

This reduction in fuel prices follows a global decline in crude oil prices, which dropped by $2 to $2.30 per barrel over the past two weeks. The price of petrol has decreased from $82.50 to $80.40 per barrel, while HSD has dropped from $90.30 to $88 per barrel. Premium rates for petrol and HSD currently stand at $8.47 and $5 per litre, respectively.

These cuts follow a previous reduction on Independence Day, offering continued relief to consumers amid fluctuating global oil markets.