The caretaker federal government on Thursday reduced the price of high-speed diesel (HSD) by Rs7 per litre, providing much-needed relief to the people who have borne the brunt of higher inflation rates since mid-2022.

According to a notification issued by the Finance Division, the tariffs of kerosene oil have also been slashed by Rs3.82 per litre. The price of petrol however remained unchanged.

After the reduction, the price of HSD was reduced from Rs296.71 to 289.71 per litre whereas the price of kerosene oil became Rs201.16 from 204.98 per litre.

HSD is primarily used in the agriculture and transport sectors, and this price reduction may help alleviate inflation to some extent.

Read more: Petrol price reduced by Rs2.04, HSD by Rs6.47 per litre

Kerosene oil is commonly used in stoves, particularly in remote areas, including the northern regions of the country. The Pakistan Army is also a major consumer of kerosene oil.

The notification also stated that the tariffs of light-diesel oil (LDO), which is used for industrial purposes, has been slashed from Rs180.45 to 175.93, a reduction of Rs4.52 per litre.

It also stated that the prices of petroleum products were reduced following a recommendation by the Oil and Gas Regulatory Authority (Ogra). The prices are applicable from midnight.