Islamabad (By A Reporter): Government reduced petrol prices by Rs 15 per litre and fixed new price at PKR 81.58 per litre. High Speed Diesel price is reduced by PKR 27.15.
HSD will now be available at PKR 80.10 per litre. Kerosene price were reduced by PKR 30.01 to PKR 47.44 per litre. Light Diesel Oil price will be PKR 47.51 per litre after a reduction of PKR 15.
“The governemtn is extending maximum relif to the public,” stated official press release. “Relief packages including Economic Stimulus Package, Ehsas Emergency Relief Programe, Incentive Package for SMEs adn many other relief measures. The lastest one is the considerable decrease in the price of varioius petroleum products.”
International market had crashed this month and gulf oil was available on discount rate. Therefore, a significant decrease was expected. Analysts said drastic cut in the petroleum prices will have positive impact inflation. Analysts are also expecting decline in the interest rate by the end of May or early June.