The caretaker federal government has announced to cut down the prices of petroleum products for the next fortnight. Petrol’s price has been slashed off by Rs. 2.04 per liter and the high-speed diesel’s price has been cut down by Rs. 6.47 per liter. The new price of petroleum will be Rs. 281.34 and high-speed diesel’s new price will be Rs. 296.71.
The price of light diesel oil and kerosene has also been reduced by the government with Rs. 6.05 per liter price cut down of kerosene to Rs. 204.98. The price of light diesel has been cut down by Rs. 9.01 per liter to Rs. 180.45. The new prices will commence from Thursday, 16th of November. It is important to mention that at last fortnightly review of prices of gas the government also decided to keep the prices unchanged.
The prices of petroleum in Pakistan are dependent on 2 factors largely that are the exchange rate and international oil prices. From the start of November, the prices of oil have come down internationally and the Pakistani rupee has depreciated by 2.31 percent against the US Dollar during November.
