The government reduced the price of petrol by Rs 8 per litre and the prices of the high-speed diesel (HSD) and the light diesel oil (LDO) by Rs5 for the next fortnight, an official announcement said on Wednesday.
Effective June 1, 2023 (today), the price of petrol would come down to Rs 262 per litre from Rs 270 per litre, registering a reduction of Rs 8 per litre, the finance division said in a late-night statement.
Similarly, the price of HSD will reduced from Rs 258 per litre to Rs 253 per litre, while the price of LDO will lowered from Rs 152.68 per litre to Rs 147.68 per litre.
According to the statement, there had been no change in the price of kerosene oil at Rs 147.68 per litre.
The finance division said that government had decided to reduce the existing prices of petroleum products to provide relief to the consumers.
Moreover, People use petrol in motorbikes and small cars, and it also serves as an alternative to compressed natural gas (CNG).
The HSD is widely used in agriculture and transport sectors and the LDO is used in industry.
Therefore, The reduction in the HSD price will have healthy impact on farmers and may lead to cut in the cost of transportation of goods.
In remote areas of Pakistan, particularly in the northern part of the country, people use kerosene oil for cooking purposes when liquefied petroleum gas (LPG) is not available.
The army is also a key user of kerosene oil in northern part of the country.
Published in the Logical Baat, June 1, 2023.