On Sunday the government announced a reduction in fuel prices, Govt Reduced Fuel Prices Petrol Down Rs10 And High-Speed Diesel Rs13 Per Lt the cost of petrol falling by Rs10 per Lt from Rs259 to Rs249, and High-Speed Diesel dropped by Rs13 per Lt from Rs262 to Rs249. The price of Kerosene oil has been reduced by Rs 11 from Rs 169 to Rs 158, and the price of light diesel oil has been reduced by Rs 12 from Rs 154 to Rs 141.s 154 to Rs 141.
This reduction in petrol prices is due to the ongoing fluctuations in the global Oil markets.
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The New Rates Of Oil
- Effective From: September 16, 2024
| OIL | Rs./Litre |
| PREMIER EURO 5 | Rs.249.1/Ltr |
| HI-CETANE DIESEL EURO 5 | Rs.249.69/Ltr |
| LDO | Rs.141.93/Ltr |
| SKO | Rs.158.47/Ltr |
| JP-1 | Rs.176.55/Ltr |
Masadik Masood Malik, Minister Petroleum On Reduction In Fuel Prices
Earlier this week Govt Reduced Fuel Prices Petrol Down Rs10 And High-Speed Diesel Rs13 Per Lt, the Federal Minister for Petroleum, Musadik Masood Malik, highlighted that while Pakistanis stand to benefit from the decrease in international petroleum prices, they will also bear the brunt when prices escalate. In response to a query in the National Assembly, the minister emphasized that the volatility in the international market makes it difficult to forecast petroleum prices for the upcoming fortnight.
Malik said, “We often receive support from Saudi Arabia through oil on deferred payments,” that domestic oil prices are determined by global market trends.
