Petroleum prices decrease by up to 2.5pc

As per increased tax rates on certain products, the government reduced the prices of all the petroleum products by 1.6 to 2.5pc for the next 15 days to pass on the partial impact of the decline in the international prices.

The notification issued by the ministry of finance confirmed that the ex-depot price of petrol was reduced by Re1.79 and that of high-speed diesel (HSD) by Rs2.32 per liter.

It reduced the ex-depot price of kerosene and light diesel oil (LDO) by Rs2.06 and Rs2.21 per liter, respectively.

As such, the ex-depot rate of HSD was fixed at Rs110.76 per liter instead of Rs113.08 at present, showing a reduction of 2.05pc. Likewise, the ex-depot petrol price was set at Rs108.56 per liter against Rs110.35 at present, down 1.62pc.