ISLAMABAD: Providing significant relief to the public grappling with inflation, the interim government has decided to reduce the price of petrol for the upcoming two weeks by Rs14 per liter.

In an official notification, the Finance Division announced that the revised prices for petroleum products for the period from December 16 to December 31 were recommended by the Oil and Gas Regulatory Authority (Ogra).

As per the Finance Division’s statement, the new price for petrol is set at Rs267.34 per liter, reflecting a reduction, while the diesel rate has been decreased by Rs13.50 per liter, now standing at Rs276.21 per liter.

Additionally, the price of kerosene oil has been cut by Rs10.14 per liter to reach Rs191.02, and light diesel oil will be priced at Rs164.64 per liter after a reduction of Rs11.29.

The adjustment in fuel prices is in response to a substantial decline in global oil prices over the past two weeks. It is part of the government’s regular practice to review petroleum product prices bi-weekly, considering international market trends and the exchange rate of the rupee.