Public should feel relief from decreased petroleum prices: PM

ISLAMABAD: Prime Minister Imran Khan has said that people should feel some relief after petroleum prices were decreased due to a global drop in demand amid the COVID-19 outbreak.

In a statement on Saturday PM Khan noted that inflation had previously risen in line with amplification in the prices of petroleum products.

The statement further said “After the significant reduction in oil prices, it will be ensured that rates of other essential food items are also decreased.”

Prime Minister Imran Khan said that the government, with the cooperation of district administrations and police, will begin action against illegal profiteering across the country.

Prices of essential food items will be brought down under any circumstances, and severe action will be taken against those who do not obey government orders, it added.

PM Khan also instructed the provincial governments of Punjab and Khyber Pakhtunkhwa to take steps for reducing inflation.

The federal government has slashed prices of petroleum products for May 1 until the end of the month due to a sharp decline in oil prices in the international market.

According to the notification, the price of petrol has been brought down to Rs 81.58 after a reduction of Rs 15 per liter. Meanwhile, the rate of high-speed diesel has been slashed by Rs 27.15 per liter and reduced to Rs 80.10.

Kerosene oil and light diesel will now be sold at Rs 47.44 and Rs 47.51 per liter, respectively, after a reduction of Rs 30.01 and Rs 15 in their prices, the notification read.