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PM Slashes Fuel Prices by Rs22
The new rates are a relief measure for inflation-hit consumers as global oil prices continue to ease, officials said.
- On Friday, the federal government announced a Rs22 per litre reduction in both petrol and high-speed diesel prices, presenting the cut as an "Eidul Adha gift" for the public.
- Prime Minister Shehbaz Sharif stated that providing relief remains among his "top priorities," with the government previously providing subsidies exceeding Rs130 per litre to maintain price stability.
- According to the official notification from the Ministry of Energy's Petroleum Division, high-speed diesel is fixed at Rs380.78 per litre while motor spirit now stands at Rs381.78.
- Negotiators edged towards a 60-day ceasefire deal on Thursday pending President Donald Trump's approval, potentially reopening shipping through the Strait of Hormuz and fueling investor optimism.
- However, "the market's patience may be tested if a deal is not agreed by early June," warned Kathleen Brooks, research director at XTB, citing risks to oil prices and global stock rallies.
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14 Articles
Geo News+2 Reposted by 2 other sources
Govt slashes petrol, diesel prices by Rs22 per litre each
Govt terms reduction as gift to nation on Eid ul Adha.Relief was also extended to public last week: govt.Fuel prices see decline amid reduction in global oil prices.The federal government has decided to cut the prices of petrol and...
Coverage Details
Total News Sources14
Leaning Left1Leaning Right4Center1Last UpdatedBias Distribution66% Right
Bias Distribution
- 66% of the sources lean Right
66% Right
L 17%
C 17%
R 66%
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