Wednesday, the federal government said that the prices of fuel goods will go down.
Ishaq Dar, who is in charge of finance, made the news at a press meeting. Under the new prices, the cost of a litre of gas has gone down by Rs. 8 and the cost of a litre of high-speed diesel (HSD) has gone down by Rs. The new prices for gas and HSD are Rs. 262 and Rs. 253, respectively, per litre.
The price of light diesel oil (LDO) has also gone down by Rs. 5 per litre. The new price is Rs. 147.68, while the price of gas oil stays the same at Rs. 164.07. From midnight, the new prices will be in place.
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At the last review every two weeks, the government cut the prices of all fuel products. The price of petrol went down by Rs. 12 per litre, and the price of high-speed diesel (HSD) went down by Rs. 30 per litre.
One of the main reasons for the high weekly inflation is that the prices of gas and HSD have gone up over the past year. The year-on-year (YoY) rate of inflation for the week ending May 25, 2023, was 45.49 percent, according to the most recent statistics from the Pakistan Bureau of Statistics (PBS).