Pakistan cuts petrol and diesel prices from November 3

Islamabad: The government has reduced the prices of petroleum products providing some relief to consumers as petrol becomes cheaper by Rs3.40 per litre and high-speed diesel by Rs7.76 per litre.

Islamabad: The government has reduced the prices of petroleum products providing some relief to consumers as petrol becomes cheaper by Rs3.40 per litre and high-speed diesel by Rs7.76 per litre.

According to a notification issued by the Petroleum Division on Monday the new petrol price has been set at Rs374.51 per litre while diesel will now cost Rs395.20 per litre.

The revised rates will take effect from midnight on November 2 and remain applicable from November 3, the notification stated.

The reduction in fuel prices is expected to offer some relief to motorists, transport operators and businesses that rely heavily on petroleum products. Diesel is widely used in public transport goods carriers and agricultural machinery making its price particularly important for transportation and operating costs.

Petrol prices meanwhile directly affect millions of motorcycle and car users across the country.

The latest adjustment follows the government’s review of petroleum prices. However despite the reductions, both fuels remain expensive with petrol priced above Rs370 and diesel close to Rs400 per litre. Consumers will begin paying the revised rates at fuel stations following the midnight implementation of the new prices.