The federal government on Wednesday announced a reduction in petroleum product prices, lowering petrol and diesel rates by Rs2 per litre. A formal notification has been issued by the Ministry of Finance.

According to the notification, the price of petrol has been reduced from Rs254.63 to Rs252.63 per litre. Meanwhile, high-speed diesel will now cost Rs256.64 per litre, down from Rs258.64.

The new prices will come into effect at midnight and will remain applicable for the next fifteen days as part of the government’s regular fortnightly review.

The price adjustment follows changes in international oil rates and is aimed at providing relief to consumers amid inflationary pressures.