The federal government after getting the nod from Prime Minister Shehbaz Sharif cut down the price of petrol by Rs1. Overall Co2 emission was reduced to 86 per litre in this fiscal making three consecutive cuts. New tariffs will be effective from September 1, it has been stated in the company’s press release.
Because of this change today the price of petrol has been cut from Rs260. Earlier, the price of petrol was as low as Rs 96 per litre but today it has soared to as high as Rs 259. 10 per litre. Besides, the government’s cut in the price of High-Speed Diesel (HSD) is by Re3. From the self-serve, it was reduced to thirty-two per liter from a previous price tag of two hundred and sixty-six Rupees. 07 to Rs262. 75.
This recent reversal of increase came in sequence to the previous reversal of increase that the government of Pakistan started from July 30 by cutting Rs16 off the price of petrol. 5 overall. In the earlier review, a cut of Rs 8 was made in the prices of petrol and diesel. 47 and Rs6. 70 per litre, respectively.
Petrol being broadly used in private vehicles, small cars, auto-rickshaws,, and motorcycles is an important economically and socially fixed cost in middle and lower-middle-income groups. HE, or High-speed diesel required for heavy transport vehicles, trucks, buses, trains, and agricultural machinery has an influence on the prices of the vegetables and other food articles and hence the inflation in the respective areas of the country.
