Adviser to the Finance Minister Khurram Shehzad has said that the reduction in petroleum product prices has already begun, and further decreases are expected in the coming days.
Khurram Shehzad stated that fuel prices do not come down as quickly as they rise, so the impact of global market changes takes time to reflect at the consumer level.
Prime Minister Shehbaz Sharif has announced a major reduction of Rs 74 per liter in petrol and Rs 67 per liter in diesel prices, marking a significant relief for consumers.
According to the announcement, petrol price will drop from Rs 373 to Rs 299 per liter, while diesel price will decrease from Rs 378 to Rs 311 per liter.
Prime Minister Shehbaz Sharif said that the government is directly passing on the benefit of declining global oil prices to the public and will continue taking effective steps to reduce inflation further.