Petrol price drops after long pause

The federal government has officially announced the latest petroleum prices for the upcoming two weeks, bringing relief to consumers.

Petrol prices have been cut by Rs1, bringing the new price to Rs256.13 per liter. High-speed diesel (HSD) has also seen a decrease of Rs4 per liter, with the new price set at Rs263.95 per liter.

This marks the first reduction in petrol prices after three consecutive increases, offering some relief to motorists and transporters. The revised prices came into effect on February 16 and will remain in place for the next 15 days.

Fuel prices in Pakistan are adjusted every fortnight, influenced by global oil market trends, changes in exchange rates, and government taxation policies. The latest price reduction is a response to fluctuations in international crude oil prices and aims to help stabilize the domestic economy.

For the public, this adjustment is a welcomed change, as high fuel costs had been putting significant pressure on household budgets and transport services. This shift in fuel prices is expected to provide some ease for daily commuters and the transportation industry across the country.