Major drop in public transport fares after fuel price cut

LAHORE: Public and goods transport fares across Punjab have been reduced, giving relief to passengers and businesses after a decrease in petroleum prices.

In Lahore, public transport operators have cut fares by 25 percent. Many private transport companies have also followed this decision. Mazda truck operators have also reduced their rates by 25 percent.

At the same time, goods transport associations have announced a bigger reduction of 40 percent in fares. According to the President of the Pakistan Goods Transport Association, freight charges across the country have dropped by 40 percent.

Ticket prices for intercity travel have also gone down. The fare from Lahore to Peshawar has been reduced by Rs1,032, bringing the new price to Rs3,100. Similarly, the ticket price for Karachi has dropped by Rs3,000, and is now Rs9,000.

These reductions came after Prime Minister Shehbaz Sharif announced a cut in fuel prices.

According to the Petroleum Division, petrol prices have been reduced by Rs11.83 per liter, bringing the new rate to Rs366.58. Diesel prices have seen a major cut of Rs134.81 per liter, with the new price set at Rs385.54.

Kerosene oil is now cheaper by Rs17.33 per liter, with a new rate of Rs450.15. Light diesel oil has also dropped by Rs25.31 per liter and is now priced at Rs369.72.

Overall, the reduction in fuel prices has led to lower transport costs, which is expected to benefit daily commuters and businesses across the country.