The incumbent government on Monday announced reduction in petrol and diesel prices for the next fortnight.
The cut in fuel prices is a respite in the fluctuating global fuel costs.
The Finance Ministry issued a notification in which the petrol price has been reduced to Rs2.7 per litre, while high-speed diesel has been cut by Rs3.40 per liter.
The new prices would be valid for the next fortnight.
The new prices, after adjustment, are at Rs247.03 per liter of petrol and Rs246.29 per liter of high-speed diesel.
To make kerosene oil prices more bearable, the government on Monday cut the per-liter price by Rs3.57 to Rs154.90 per litre.
This is some welcome news to Pakistan’s inflation-stricken population.
However, the reductions are unlikely to end there-for whatever temporary relief this may initially provide, it is bound to be short-lived, as global market trends will be expected to play their part in future adjustments.
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