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The federal government Monday slashed the petrol prices by Rs12 per litre and the price of high-speed diesel by Rs30 per litre effective from May 16, 2023.
The government also decreased prices of light-diesel and kerosene oil by Rs12 and Rs12, respectively.
Finance Minister Ishaq Dar while addressing a televised press conference announced the decision.
After the decrease in the prices, the price of petrol would down to Rs270 from Rs282 per litre for the next fortnight while the price of high-speed diesel will be reduced to Rs258 from Rs288.
The price of light-diesel was reduced by Rs 12 to reach Rs152.68 from Rs164.68.
The price of kerosene oil was also reduced by Rs12 to reach Rs164.07 from Rs176.07 per litre.
The new prices will be implemented at 12:00 midnight.