Rs135 | Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced a Rs135 per litre cut in diesel and Rs12 per litre in petrol prices for the week ending April 17 to pass on the impact of ease in global prices following a two-week ceasefire between the United States and Iran. The ex-depot price of high-speed diesel (HSD) has now been fixed at Rs385.54 per litre against Rs520.35, showing a 26 per cent or Rs135 per litre decrease. HSD is considered the most inflationary item given its use in freight transportation. On the other hand, petrol price has been cut by around 3pc to Rs366.58 per litre for the next week from Rs378.41, down by Rs11.83. The price of kerosene was also reduced by Rs17.33 to Rs450.15 per litre and that of light diesel oil (LDO) by Rs25.31 to Rs369.72 per litre. Informed sources said the reduction in the diesel price was not purely because of a fall in global rates, but chiefly because of the correction in the pricing formula that entailed undue benefit to local refineries as the spread between t...

Prime Minister Shehbaz Sharif announced on Friday that the government was reducing the price of high-speed diesel (HSD) by Rs135 per litre and that of petrol by Rs12 per litre. He made the announcement in a televised address to the nation. PM Shehbaz said HSD would be available at Rs385 per litre and petrol at Rs366 per litre from 12am on Saturday. Moreover, he said targeted subsidy initiatives announced by the government following the fuel crisis resulting from the Middle East crisis would not be discontinued. Separately, Deputy Prime Minister and Foreign Minister Ishaq Dar shared the notification for the new prices on X, according to which the price of kerosene has also been reduced by Rs17.33 per litre to Rs450.15 and that of light diesel oil by Rs25.31 per litre to Rs369.72. PM Shehbaz had begun his address by saying he was speaking to the nation at a “historic occasion”, when there was talk of peace instead of war in the Gulf. He said that parties that had been facing each other in a war had now agreed t...