Govt reduces petrol price by Rs5.45, diesel by Rs3.63 per litre

The federal government on Tuesday announced a reduction in petroleum prices, cutting petrol by Rs5.45 per litre and high-speed diesel (HSD) by Rs3.63 for November 4.

Following the revision, petrol will now be available at Rs369.06 per litre, while the price of HSD has been set at Rs391.52 per litre, according to an Oil and Gas Regulatory Authority (OGRA) notification.

The price cut came after the government hinted at further relief for consumers. Earlier, Petroleum Minister Ali Pervaiz Malik said Prime Minister Shehbaz Sharif had directed authorities to ensure maximum relief for low-income groups.

Speaking at a press conference in Islamabad alongside Information Minister Attaullah Tarar, Malik said the government had also managed to avert a possible increase in petrol prices on Friday with the cooperation of oil refineries.

He had earlier indicated that consumers would receive further good news regarding petroleum prices.