ISLAMABAD: The Pakistani government on Sunday slashed the price of petrol by Rs3, while it increased high-speed diesel’s price by more than Rs8 for the first half of August, its Finance Division said, amid fluctuation in the global petroleum prices.
A liter of petrol will now cost Rs227.19, while that of high-speed diesel will cost Rs244.95, according to a Finance Division notification.
Kerosene oil has gone up by more than Rs4 to Rs201.07, however, the price of light diesel oil has almost been maintained at Rs191.32 after a negligible cut of Rs0.12.
Pakistan revises petroleum prices every fortnight.
"Owing to the fluctuations in petroleum prices in the international market and exchange rate variation, the Government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers," the Finance Division said in its notification late Sunday.
The new prices of petroleum products will take effect at 12am on Monday, according to the Finance Division.
The revision in petroleum prices comes two days after Pakistan’s national currency regained some lost ground against the US dollar after plunging 13.31 percent in the last 10 trading sessions.
The Pakistani currency recovered 0.24 percent of its value during the weekend trading session on Friday to close at Rs239.37 against the greenback in the interbank market. The rupee had lost its value by 26.26 percent since January.
