The government on Friday reduced the price of diesel by Rs32.12, according to a statement issued by the Prime Minister’s Office (PMO).
The statement said that Prime Minister Shehbaz Sharif had decided to provide relief to the nation and approved a reduction of Rs32.12 in the price of diesel.
“After the approval, the price of diesel has decreased from Rs385.54 to Rs353.43,” the statement said.
“The effects of the reduction in oil prices will be conveyed to the public as soon as possible,” the premier was quoted as saying.
After the US-Israeli war on Iran began, the government had initially hiked petrol and diesel prices by Rs55 per litre on March 6 and announced unprecedented austerity measures on March 9.
On three separate occasions in the following weeks, PM Shehbaz said that he had rejected recommendations to increase fuel prices despite an increase in the global market.
But on April 2, Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb had announced an unprecedented increase of 43 per cent and 55pc in the prices of petrol and high-speed diesel, respectively. The ministers had also announced a targeted fuel subsidy programme.
However, just a day later, PM Shehbaz had slashed the petroleum levy by Rs80 per litre and brought the price of petrol down to Rs378 per litre.
On April 10, PM Shehbaz had further decreased diesel prices and petrol prices by Rs135 and Rs12 per litre, respectively.
