ANI
01 Sep 2024, 02:48 GMT+10
Karachi [Pakistan], September 1 (ANI): The federal government of Pakistan has announced a decrease in petroleum prices, effective from September 1, as reported by ARY NewsPetrol will now cost 259.10 Pakistani Rupees (PKR) per litre, down by PKR 1.86, while High-Speed Diesel (HSD) will be priced at PKR 262.75 per litre, with a decrease of PKR 3.32.
Following the recent change, the kerosene oil will now be priced at PKR 169.62 per litre after a decrease of PKR 2.15, while light diesel oil will drop by 2.97 per litre, with the new price set at PKR 154.05, according to ARY News.
Notably, Pakistan was considering a reduction in petrol prices, the third consecutive decrease in petroleum product rates since July 31.
According to the sources, the earlier proposal was to decrease the price of petrol by PKR 2.97 per litre, high-speed diesel by PKR 2.31 per litre, kerosene oil by PKR 1.39 per litre, and light-speed diesel by PKR 1.96 per litre. Sources further said that the drop in international oil prices has resulted in the proposed reduction, with American crude oil falling by 3.60 per cent to USD 74.69 per barrel over the past two weeks and London Brent oil decreasing by 2.34% to USD 74.69 per barrel, ARY News reported.
Earlier, the federal government headed by Nawaz Sharif in August had announced a reduction in petrol prices by PKR 8.47 per litre, reported Geo News.
Alongside this, the Pakistan government had also lowered the price of high-speed diesel by PKR 6.70, reducing it from Rs 272.77 to Rs 266.07 per litre.
This price reduction was officially announced by the Ministry of Information ahead of the country's Independence Day celebrations on August 14. (ANI)Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationWASHINGTON, D.C.: The U.S. government has placed more than 1,300 Voice of America (VOA) employees on leave and slashed funding for...
WASHINGTON, D.C./SEATTLE: Boeing is facing mounting scrutiny after a series of safety lapses and manufacturing issues, with U.S. Transportation...
OMAHA, Nebraska: Vaccines could help stop bird flu and prevent the mass killing of chickens, which has driven egg prices up to nearly...
In spectacular fashion, Israel has upended peace talks and brought to a dramatic end the ceasefire that had paused 15-months of carnage...
WASHINGTON, D.C.: The U.S. Department of Education is investigating 45 universities for possible violations of civil rights laws. ...
WASHINGTON, D.C.: Gold prices have shattered the US$3,000 per ounce barrier for the first time, driven by escalating geopolitical tensions...
NEW YORK, New York - U.S. stocks rose Wednesday despite the U.S. Federal Reserve signalling a potential slowdown in the U.S. economy,...
WASHINGTON, D.C.: President Donald Trump has reversed a Biden-era executive order requiring businesses with federal contracts to pay...
FRANKFURT, Germany: UBS CEO Sergio Ermotti will receive a pay package of just over 15 million Swiss francs (US$17 million) for 2024,...
PARIS, France: French Prime Minister Francois Bayrou acknowledged over the weekend that the European Union may have miscalculated by...
NEW YORK, New York - Sellers took charge again on Wall Street Tuesday as the brief rebound that took place on Monday petered out. Stocks...
WASHINGTON, D.C.: The Trump administration has approved a plan to expand a coal mine in Montana and keep it running for 16 more years,...