Petrol, diesel prices further slashed in Pakistan

ISLAMABAD: Pakistan has cut petrol and diesel prices for the next 15 days, effective from August 16, in line with international market trends, sources said on Sunday.

Petrol prices have been reduced by Rs10 per liter, while diesel prices have been slashed by Rs13.06 per liter. The price of light diesel has also dropped by Rs12.12 per liter. The price of kerosene has been reduced by Rs11.15 per liter.

Prime Minister Shehbaz Sharif has formally approved the new rates, the sources added.

The reduction follows a 7 per cent drop in international petroleum product prices over the past two weeks.

In the previous fortnight, the government reduced petrol prices by Rs1.86, bringing the rate to Rs259.1 per litre, while the price of HSD was lowered by Rs3.32 to Rs262.75 per litre.