Islamabad May 1 2025: The Pakistani government has decided to cut petroleum product prices for the next fortnight, starting from May 1, 2025.
According to the decision the prices of petrol and diesel reduced each by PKR 2 per liter to PKR 252.63 per liter and PKR 256.64,said a release issued by the Ministry of Finance here.
During the month, Brent settled down 15% and WTI was down 18%, the biggest monthly percentage declines since November 2021.
However, the decline in local prices is lower as government increase Petroleum Development Levy to subsidize electricity rates and fund development projects.
This decision provides relief to consumers amid economic fluctuations and global oil market uncertainties.
