The price of gasoline and high-speed diesel (HSD) for the upcoming two weeks was cut by the government on Tuesday by Rs. 5.45 and Rs. 8.42, respectively.
The finance ministry stated in a notification that the decrease was brought about by price fluctuations in the global market as a result of a downward trend in petroleum product prices during the previous two weeks.
According to the report, the price of HSD was Rs281.96 and that of gasoline was Rs288.49 per liter.
The government raised the price of gasoline and HSD by Rs4.53 and Rs8.14 per litre, respectively, a fortnight ago.
The maximum amount allowed by law, which is Rs60 per liter for both gasoline and HSD, has already been reached by the government.
Dawn was earlier informed by reliable sources that the costs of gasoline and diesel were anticipated to decrease by approximately Rs5 and Rs9 per litre, respectively, mostly due to a decrease in international pricing and import tariffs.
According to the sources, during the past two weeks, the price of gasoline and HSD has dropped by roughly $3 and $5 per barrel, respectively, on the global market.
