ISLAMABAD: Pakistan has reduced the price of petroleum products by as much as Rs4 per liter for the next two weeks, the Petroleum Division announced late Sunday.
Pakistan revises prices of petroleum products every two weeks. These prices are influenced by global oil market trends, currency fluctuations and changes in domestic taxes.
The price of motor spirit, or petrol, was reduced by Rs2 to Rs263 per liter, according to a Petroleum Division notification. The price of high-speed diesel went down by Rs4 to Rs279 per liter.
“The government has revised the price of the petroleum products based on recommendations of OGRA (Oil and Gas Regulatory Authority),” the notification read.
The fortnightly revision of prices ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country’s fuel supply chain.
