ISLAMABAD: The government has decided to further reduce prices in view of the sharp decline in sales of petroleum products

According to sources in the petroleum industry, it has been decided to reduce the price of petrol by Rs 5 to 10 per liter and diesel by Rs 2 per liter.

Earlier, on May 1, the prices of petroleum products were also reduced. Corona has led to a significant drop in sales of petroleum products across the country. On May 1, the prices of petroleum products were also reduced, after which the price of petrol was reduced to Rs 82. According to petroleum industry sources, petrol prices are likely to be further reduced by Rs 10 and diesel by Rs 2., which will be great news for the citizens during the lockdown.

Also at the end of March, under the economic package of Prime Minister Imran Khan, the Ministry of Finance had issued a notification of a major reduction in the prices of petroleum products, saying that after the reduction in the price of petrol by Rs 15 per liter, its new price 96 has been fixed at 60 paise per liter.

According to the earlier notification, the price of diesel was fixed at Rs 107.25 per liter while the new price of kerosene was fixed at Rs 77.45 per liter. Despite a clear reduction in the prices of petroleum products, there was no reduction in the prices of essential commodities. More inflation was observed during Ramadan and Eid. On May 2, Prime Minister Imran Khan had directed the provinces to take immediate steps to reduce inflation so that the effects of the reduction could reach the people.