Huge Relief for Public: Petrol Price Cut by Rs 74, Diesel by Rs 67 per Litre

ISLAMABAD: In a major move to provide financial relief to the inflation-weary public, the federal government has announced a massive reduction in the prices of petroleum products, driven by declining oil prices in the global market.

H2: New Petrol and Diesel Prices in Pakistan

Prime Minister Shehbaz Sharif shared the development with the nation, detailing the significant price cuts:

• Petrol: The price of petrol has been slashed by Rs 74 per litre. The new price stands at Rs 299 per litre, down from the previous Rs 373.

• Diesel: The price of high-speed diesel has been reduced by Rs 67 per litre, bringing it down from Rs 378 to Rs 311 per litre.

H2: National Austerity Measures Save Rs 129 Billion

Speaking on the occasion, Prime Minister Shehbaz Sharif lauded the resilience of the citizens during tough economic times and thanked them for supporting the government.

He highlighted that the federal government managed to save Rs 129 billion through strategic cuts in the development budget and strict austerity measures. These savings were directly utilized to cushion the public against the soaring impacts of global oil inflation.

H2: Expected Economic Impact: Lower Inflation and Transport Costs

The substantial decrease in fuel prices is expected to have a positive domino effect on the country’s economy. Financial analysts predict that this move will significantly reduce transportation and logistics costs, ultimately easing the overall inflationary pressure on essential commodities across the country.