Islamabad, Feb 16: The federal government has officially announced the latest petroleum prices for the upcoming two weeks, bringing relief to consumers.
As per the notification issued by the Ministry of Finance, the price of petrol has been reduced by Rs. 1, bringing it down to Rs. 256.13 per liter. Similarly, the price of high-speed diesel (HSD) has been cut by Rs. 4 per liter, setting the new rate at Rs. 263.95 per liter.
This marks the first reduction in petrol prices after three consecutive increases, providing some financial relief to motorists and transporters. The new prices take effect from February 16 and will remain in place for the next 15 days.
The government adjusts fuel prices every fortnight based on global oil market trends, exchange rate fluctuations, and taxation policies. This recent price adjustment reflects shifting international crude oil prices and aims to stabilize the domestic economy.
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Consumers, particularly in the transport and logistics sectors, are expected to benefit from this price cut, as diesel plays a crucial role in commercial transportation and industrial operations.
With global fuel prices remaining unpredictable, further adjustments will be determined in the next fortnightly review.
