Govt cuts petrol, diesel prices for fifth consecutive time

The federal government has reduced petrol and diesel prices for the fifth consecutive time, providing further relief to consumers amid declining international oil prices.

According to the latest decision, the price of petrol has been reduced by Rs4 per litre, bringing it down from Rs377.78 to Rs373.78 per litre.

The government has also cut the price of high-speed diesel by Rs2 per litre. As a result, the price of diesel has been reduced from Rs380.78 to Rs378.78 per litre.

Officials said the revised prices will come into effect from midnight tonight and will remain applicable for the next pricing period.

The latest reduction marks the fifth consecutive decrease in petroleum prices by the government, reflecting changes in global oil markets and exchange rate trends.

Petrol is widely used in motorcycles, cars and other private vehicles, while high-speed diesel is primarily consumed by the transport, agriculture and industrial sectors. Any reduction in diesel prices is generally viewed as beneficial for transportation costs and economic activity.

The government has periodically adjusted petroleum prices in line with fluctuations in international crude oil prices and domestic fiscal considerations.

With the latest revision, consumers are expected to receive additional relief at fuel stations across the country from Saturday.