Daily Times

ISLAMABAD: In a major relief, the Pakistan government on Wednesday slashed the prices of petrol and high-speed diesel (HSD) for the next fortnight by Rs10.20 and Rs2.33, respectively.

According to details available with news Reports the new price of petrol is now Rs258.16 per litre, Rs10.20 down from the previous Rs268.36.

Similarly, high-speed diesel (HSD) will be available for Rs267.89 per litre, Rs2.33 down from the previous rate of Rs270.22 per litre.

A fortnight ago, the Pakistan government reduced the prices of petrol and high-speed diesel by Rs4.74 and Rs3.86 per litre, respectively.

With this latest reduction, the total relief provided to the public in terms of petrol prices has reached Rs35 per litre.

Earlier, it was reported that the government was expected to pass on the impact of lower international prices to consumers with a cut in the rates of petrol and high-speed diesel (HSD).

According to sources, the prices of petrol and HSD had declined in the international market by about $3.75 and $2.7 per barrel, respectively, in the last two weeks.

Oil prices eased on Friday as markets evaluated the impact of U.S. interest rates staying higher for longer than anticipated.

Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.