Govt cuts petrol, diesel prices by Rs1.97 per litre
The federal government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs1.97 per litre for the next week, according to a notification issued by the Ministry of Petroleum. Under the revised rates, the price of petrol has been fixed at Rs297.53 per litre, while HSD will now cost Rs309.50 per litre. The new prices came into effect at midnight and will remain applicable for the next week, the notification said. The announcement came a week after the government decided to keep petrol and diesel prices unchanged despite a continued decline in international oil prices. Following that decision, Petroleum Minister Ali Pervaiz Malik rejected the impression that the government was favouring any particular sector and said the public was likely to receive "good news" in the coming days. Read: Petroleum price freeze sparks backlash He said Prime Minister Shehbaz Sharif's top priority was protecting consumer rights, adding that a high-level committe...