In a move to provide relief to the public, Prime Minister Shehbaz Sharif has announced a reduction in petrol prices in Pakistan. Starting from September 1, 2024, the price of petrol will be reduced by Rs 1.86 per liter, bringing it down from Rs 260.96 per liter to Rs 259.10 per liter.
This decision comes as part of the government’s effort to ease the financial burden on the citizens amid rising living costs. The decrease in petrol prices is expected to have a positive impact on transportation costs and overall inflation, benefiting both consumers and businesses.
Breakdown of the New Petrol Prices in Pakistan
- Previous Petrol Price: Rs 260.96 per liter
- New Petrol Price: Rs 259.10 per liter
- Effective Date: September 1, 2024
Impact of the Petrol Price Reduction
The reduction in petrol prices is likely to provide much-needed relief to the general public, particularly those who rely heavily on transportation for their daily commute. Lower fuel costs can lead to reduced prices for goods and services, potentially bringing down inflation rates.
Diesel and Other Fuel Prices Also Reduced
In addition to petrol, the government has also reduced the prices of other petroleum products. High-speed diesel (HSD) saw a decrease of Rs 3.32 per liter, bringing it down to Rs 262.75 per liter from the previous rate of Rs 266.07 per liter. Kerosene oil and light diesel oil also witnessed reductions, with new prices set at Rs 169.62 and Rs 154.05 per liter, respectively.
LPG Price Increased
However, while the prices of petrol and other fuels have been reduced, the price of Liquefied Petroleum Gas (LPG) has seen an increase. The price of LPG has gone up by Rs 7 per kilogram, making the 11.8 kg domestic cylinder Rs 82.84 more expensive. This increase in LPG prices has been implemented through a notification issued by the Oil and Gas Regulatory Authority (OGRA) and will also be effective from September 2024.
Conclusion
The reduction in petrol prices in Pakistan is a welcome relief for consumers, especially in the face of rising costs of living. With the new rates coming into effect on September 1, 2024, the government’s move is expected to positively impact various sectors of the economy, easing the financial strain on the public.
