The government says that prices of petroleum goods will go down by up to Rs30.
On Monday, the federal government announced that prices for petroleum goods in the country will go down by a lot. This is because oil prices have been going down on the international market.
In a press statement, the Finance Ministry said, “The government has decided to lower the prices of petroleum products in order to pass on the benefits of the falling prices of petroleum products on the international market and help as many people as possible.”
Ishaq Dar, the Finance Minister, said that the price of high-speed diesel (HSD) has gone down by Rs30 per litre, while the price of petrol has gone down by Rs12 per litre.
According to the formal announcement, the new price of petrol is Rs270 and the new price of HSD is Rs258.
In the same way, the price of fuel oil and light diesel oil (LDO) has gone down by Rs12 per litre. The first has been set at Rs164.07 per litre and the second at Rs152.68 per litre.
He said that the new prices will start at midnight on May 16 and will stay the same for the next 15 days.
When he made the news, Finance Minister Dar said he hoped that when the prices of petroleum products went down, the prices of other goods would also go down. He also asked the carriers to lower their prices to help the people who were already struggling.
In the last 14 days, the price of a barrel of crude oil on the Brent oil market has gone as high as $77.44.