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Prime Minister Shehbaz Sharif on Friday announced a Rs74 reduction in petrol prices and Rs67 for high-speed diesel (HSD) as the government seeks to pass on the relief from the declining international oil prices.
The official notification for the new petroleum prices — revised on a weekly basis since the US-Iran war erupted — is yet to be issued.
Once notified, the price of petrol will stand at Rs299.78 and high-speed diesel (HSD) at Rs311.78, down from Rs373.78 and Rs378.78 per litre, respectively.
In a statement from his office, PM Shehbaz said the government was passing on the benefits of an improved regional economic situation and dropping oil prices.
