Govt slashes petrol price by Rs2.07 per litre for next fortnight

The government has cut the price of petrol by Rs2.07 per litre for the next fortnight, bringing the rates down from Rs249.10 to Rs247.03 per litre.

The new fuel prices will be effective from today (October 1), according to an official notification.

The official statement said the price of high speed diesel (HSD) reduced to Rs246.29 from Rs249.69 after a cut of Rs3.40.

Meanwhile, the Kerosene oil price has also been slashed to Rs3.57 per litre and light diesel by Rs1.03 per litre.

The federal government, on the directions of Prime Minister Shehbaz Sharif, has cut the price of petrol by Rs28.57 and diesel by Rs37.51 during last two months.

On Sept 15, the government had notified a cut of Rs10 per litre in the petrol price as well as a Rs13.06 per litre reduction in the price of HSD.

Petrol, also called mogas, is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of the members of the middle and lower-middle classes, who primarily consume petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.