Pakistan fuel prices slashed for 4th time by up to PKR 13 per liter
The decline in local fuel rates follows a decrease in international prices
The decline in local fuel rates follows a decrease in international prices
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Pakistan cut petroleum product prices for the fourth time in a row on Sunday, following a decline in global crude prices.
The new price of petrol and diesel is PKR 249 and PKR 249.69 per liter, respectively. This is a reduction of PKR 10 and PKR 13 per liter, respectively.
International oil prices have fallen by 8.5% to $72.67 per barrel from $79.39 per barrel on Aug 30, due to reduced demand as OPEC revised global oil demand down.
As an oil-importing country, Pakistan benefits from this decline, with local fuel prices adjusted fortnightly. Over the last three adjustments, petrol and diesel prices have dropped by PKR 16.50 per liter and PKR 20.88 per liter, respectively.
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