Govt slashes petrol prices by whopping Rs40 per litre

MG News | October 16, 2023 at 12:00 AM GMT+05:00

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October 16, 2023 (MLN): Against the backdrop of noteworthy appreciation of the Pakistani rupee (PKR) against the US dollar and decreasing prices of oil in the international market, the caretaker government today announced a substantial reduction in petrol and diesel prices by Rs40 and Rs15 per litre.

Accordingly, the new petrol and diesel prices stood at Rs283.38 and Rs303.18 per litre.

As per notification issued by the Ministry of Finance, the new prices are effective from October 16, 2023.

On October 12, 2023, MG Link News published an estimation of fuel prices considering the above-mentioned factors wherein the latest ex-refinery calculation for petroleum showed a substantial reduction of Rs36 per litre.

In the previous fortnight, the caretaker government on September 30, slashed the petrol and HSD prices by Rs8 and Rs11 per litre to Rs323.38 and Rs318.18 per litre, respectively.

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