Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum prices, offering relief to citizens grappling with financial burdens. Petrol prices will see a notable decrease of Rs15.40 per litre, while diesel will be lowered by Rs7.90 per litre for the first half of June 2024.
These measures underscore the government’s commitment to pro-people policies, aiming to alleviate inflation and enhance economic stability.
Initial speculations hinted at a more modest reduction, but the actual decrease surpasses expectations, promising relief to consumers. The revised prices will be effective from midnight and will persist until June 15, 2024.
This adjustment marks the third consecutive reduction in petrol prices, reflecting the government’s efforts to address economic concerns.
The reduction in petrol prices to Rs 257 per litre will provide substantial relief to consumers. Previously, petrol was being sold at Rs273.93 per litre in major cities like Islamabad, Lahore, and Karachi, with high-octane petrol priced even higher.