Govt announces decrease in petroleum prices by 2.5pc

The government announced the decrease in petroleum prices by up to 2.5pc  on Wednesday for the next 15 days to pass on the partial impact of the decline in the international prices.

The finance ministry issued the notification of the reduction of the price of petrol by Rs1.55 per litre, high speed diesel (HSD) by Rs3 per litre.

While following the revised mechanism, oil prices are revised by the government on a fortnightly basis to pass on international prices published in

Platt’s Oilgram instead of the previous mechanism of monthly calculations on the basis of import cost of Pakistan State Oil.