The federal government on Saturday evening, announced a reduction in petrol price by Rs9 per liter and high-speed diesel by Rs7.
In a televised address on Saturday, Finance Minister Ishaq Dar announced the decision.
He said that there was a reduction in the price of one fuel product and an increase in the others in the international markets in the last 15 days, without specifying which products he was referring to.
The new price of petrol is Rs253 per liter and high-speed diesel Rs253.5 per liter.
While the prices of kerosene oil and light diesel oil are kept unchanged.
The new prices will be effective from July 16 (Sunday).
The finance minister added that no changes have been made to the petroleum development levy (PDL) which was increased to Rs55 per lite on the demand of the International Monetary Fund (IMF).
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