The government has reduced the prices of petrol by Rs8 and diesel by Rs11 per lite with effect from October 1.

“In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products,” a statement issued late on Saturday by the finance division read.

After the decrease, petrol will be sold for Rs323.38 per litre, down from Rs331.38 per lire while high speed diesel will be available for Rs318.18 per litre, down from R329.18 per litre.

Also read: Petrol, diesel witness massive price hikes

On September 14, the caretaker government increased the price of petrol by Rs26.02 per litre while that of high-speed diesel (HSD) by Rs17.34 per litre after announcing a similar hike at the start of the month.

However, today’s decrease in prices of petrol and diesel is expected to provide a sigh of relief to the citizens who are grappling with ongoing economic challenges, including soaring inflation, rupee depreciation against the dollar, inflated utility bills, and escalating prices of essential commodities.