Ishaq Dar announces reduction of Rs12 in petrol price, diesel's rate cut by Rs30

Finance Minister Ishaq Dar on Monday announced that the price of petrol was being reduced by Rs12 and diesel was being brought down by Rs30 per litre, Aaj News reported.

The price cut will come into effect at midnight tonight.

In a televised address, Dar said Prime Minister Shehbaz Sharif wants maximum relief to be passed onto the public. The finance minister also urged transporters and other businesses to pass on the impact of lower fuel prices to the public, as Pakistan grapples with record inflation.

“Hence, after 12pm tonight, for the next 15 days, petrol prices are being reduced by Rs12 and the new price of petrol will now be Rs270,” Dar said.

He said diesel will now cost Rs258 after a deduction of Rs30.

Kerosene oil will now cost Rs164.07 after a decrease of Rs12 and the price of light diesel oil will be reduced by Rs12 to Rs152.68 per litre.