Petrol price in Pakistan reduced by Rs2.04 to Rs281.34 per litre

WEB DESK: The price of petrol in Pakistan has been reduced by Rs2.04 per litre, resulting in a new price of Rs281.34 per litre.

Additionally, the price of High-Speed Diesel has seen a decrease of Rs6.47 per litre, bringing the diesel price to Rs296.71.

Furthermore, the government has reduced the price of Kerosene to Rs204.98, marking a reduction of Rs6.07 per litre.

The price of Light Diesel Oil has also been reduced by Rs9.01, and the latest price now stands at Rs180.45.

It has been a positive day for Pakistan, marked by two significant developments: the country has reached a staff-level agreement with the International Monetary Fund, and there has been a reduction in both petrol and diesel prices.

The interim government has implemented a zero general sales tax (GST) on all petroleum products, with a petroleum levy (PL) rate of Rs60 per litre for both petrol and diesel.

Earlier reports had hinted at potential adjustments in petroleum product prices in the latter part of November, creating a dynamic scenario.

Initial reports indicated a possible rise of Rs3.18 per litre in petrol prices, reaching Rs286.56 per litre from the current Rs283.38.

Read more: Petrol price expected to reduce by Rs7 per litre on December 1st

At the start of November, the government maintained petrol prices, following a day when it announced a substantial increase in the price of natural gas for most households and industries.