The caretaker government on Friday announced a significant reduction of Rs14 per litre in the price of petrol and Rs13.5 per litre in high-speed diesel (HSD).

The new petrol and diesel prices will be 267.34 and 276.21 per litre, respectively. The new prices go into effect on December 16, 2023.

In addition, kerosene oil and light-diesel oil prices were lowered by Rs10.14 and Rs11.29 per litre, respectively, to Rs191.02 and Rs164.64.

Business Recorder had reported earlier that the government could reduce the ex-depot prices of petroleum products by up to Rs13 per litre, in case the interim government disallows exchange rate adjustment to Pakistan State Oil (PSO).