Federal Government Slashes Petrol Price by Rs7.06 in Third Consecutive Cut
Petrol now stands at Rs362 per litre and diesel at Rs387.81, marking the third sharp reduction since the new pricing formula took effect.
The federal government has announced another reduction in fuel prices, cutting petrol by Rs7.06 per litre to Rs362 and high-speed diesel by Rs3.71 to Rs387.81, according to a notification issued by the government.
This marks the third consecutive sharp decrease since authorities reverted to a new price determination formula. In the previous revision, petrol was reduced by Rs5.45 per litre to Rs369.06 and diesel by Rs3.68 to Rs391.52.
Despite the recent downward trend, fuel rates remain significantly higher than when the daily price update mechanism was first introduced. Since the beginning of the daily fuel rates update, petrol has risen by Rs51.29 per litre and diesel by Rs64.51 per litre.
The continued cuts are expected to offer some relief to consumers and businesses that rely on fuel, including transport operators and manufacturers, where energy costs feed directly into operating expenses and end-product pricing.
Analysts will be watching whether the downward trend holds in the coming days, as fuel prices remain a key driver of inflation and overall economic sentiment in the country.
The latest rates take effect immediately and apply nationwide.
