In a move aimed at providing relief to the public amid the Middle East crisis, Prime Minister Shehbaz Sharif on Friday reduced the petrol price to Rs378 per litre for a month and slashed the petroleum levy by Rs80 per litre.
The new price would come into effect from 12am on Saturday, announced PM Shehbaz.
PM’s address comes a day after the government announced Rs137.23 increase in petrol price and high-speed diesel (HSD) by Rs184.49.
The prime minister began his address by saying he is once again addressing the nation at a challenging time, with a war ongoing in the Middle East.
Addressing the nation, PM Shehbaz said the oil prices have skyrocketed in the entire region, creating difficulties for the common man. “Oil prices have increased significantly in global markets. Inflation has broken the backs of the world’s powerful economies,” he added.
This is a developing story and is being updated with further details.
