Massive relief: Pakistan cuts petrol price by Rs40 and diesel by Rs15
- 15 Oct 2023
Gulf Today Report
The caretaker government of Pakistan late on Sunday cut the prices of petrol and diesel owing to the decreasing trend of petroleum prices in the international market, the finance ministry said in a statement.
A finance ministry statement said: “Owing to the decreasing trend of petroleum prices in the international market and due to appreciation of Pak Rupee against the US$, the government has decided to revise the existing consumer prices of petroleum products.”
The price of petrol would drop by 40 Pakistani rupees ($0.144) to Rs283.38 a litre effective from Monday (Oct.16). High-speed diesel cost would drop by 15 rupees to Rs303.18 a litre.
The Pakistani rupee on Friday created history by maintaining its winning streak for 27 consecutive working days for the first time in three years.
It hit over a three-month high below Rs278 against the US dollar in the inter-bank market.
In the past 27 working days, the currency has cumulatively regained 10.62%, or Rs29.48, compared to the record low of Rs307.10/$ hit on September 5, 2023.
