The federal government on Tuesday slashed the price of petrol by Rs8.47, taking the rate to Rs260.96 per litre, the Finance Division said in a statement.

The price of high-speed diesel (HSD) has been decreased by Rs6.7 per litre to Rs266.07.

The new prices take effect from August 14, 2024.

The statement did not mention any changes in the prices of light diesel oil and kerosene oil.

Business Recorder had earlier reported that a significant reduction in fuel prices was on the cards for Pakistani consumers. According to preliminary estimates, the government was considering slashing petrol prices by up to Rs8.36 per litre and HSD by Rs7.70 per litre for the fortnight commencing August 16, 2024.

In the previous review on July 31, the government had slashed the price of petrol by Rs6.17, taking the rate to Rs269.43 per litre. The price of HSD was decreased by Rs10.86 per litre to Rs272.77.