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ISLAMABAD: The government reduced the price of petrol by Rs40 per litre and the prices of the high-speed diesel (HSD) by Rs15 for the next fortnight, an official announcement said on Sunday.
According to the finance ministry, the new price of petrol is Rs283.90 per litre and Rs303.18 per litre for HSD.
The new prices will come into effect from 12am (tonight, October 16) and remain in place till October 31.
How much cut is expected in petrol, diesel prices on Oct 16?
It said that the government has revised the consumer prices of petroleum products in the wake of variations in international prices of the commodity and improvement in the exchange rate.
The rupee has cumulatively gained 10.62% since it hit a record low of 307.1 in inter-bank market on Sept 5.
It should be noted that two weeks ago, the interim government slashed the price of petrol by Rs8 per litre and high-speed diesel by Rs11 per litre for the next fortnight.