- The move follows the adjustments of world oil prices, the stability of the exchange rate.
- After the cut, petrol for sale at Rs252.63 per liter, down RS254.63.
- The HSD now costs RS256.64 per liter, compared to the previous rate of RS258.64.
Islamabad: With the aim of relieving consumers, the federal government reduced the prices of gas and high -speed diesel (HSD) by RS2 by liter each on Wednesday for the next fifteen days, in the midst of moderate international markets.
Oil prices extended decreases on Wednesday and were set for their greatest monthly decline in almost three and a half years.
The World Trade War has eroded the prospects for fuel demand, while concerns about the assembly supply also weighed.
Brent crude trial contracts have dropped by 77 cents, or 1.2%, at $ 63.48 per barrel of 1305 GMT. Us West Texas Intermediate Intermediate Crude Futures fell by 74 cents, also 1.2%, to $ 59.68.
The revised prices, which are mainly based on the recommendations of the oil and gas regulatory authority (OGRA) and the ministries concerned and approved by the federal government, will come into force from May 1, 2025, according to a notification issued by the Ministry of Finance.
After the cut, gasoline will be sold at RS252.63 per liter, against RS254.63, while high -speed diesel will now cost RS256.64 per liter, compared to its previous rate of RS258.64.
The decision follows minor adjustments in world oil prices and the stability of exchange rates, the government transmitting the impact to consumers as part of its bihebdomedary price revision mechanism.
Fuel prices are revised every 15 days, taking into account international market trends and exchange rate fluctuations.
For the previous fortnight, the federal government has announced that fuel prices would remain unchanged and that any economy would be diverted to infrastructure projects.
Prime Minister Shehbaz Sharif, chairing a federal cabinet meeting, said the funds would be used to darkens the N-25 motorway connecting Shaman, Quetta, Khuzdar and Karachi, improving it to highway standards.
In addition, savings will help finance the construction of M-6 and M-9 motorways (Sukkur-Hyderabad and Hyderabad-Karachi segments) and the completion of phase 2 of the Kachhi Canal project to promote agricultural development in Balochistan.