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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 declining international oil prices.
The official notification for the new petroleum prices 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.
