The federal government has announced a further reduction in the prices of petroleum products, once again providing major relief to the people burdened by the burden of inflation. According to the latest statement issued by the Ministry of Petroleum, fuel prices have been reduced for the second consecutive week, which is aimed at directly benefiting the common man and the transport sector.
According to a formal notification issued by the Ministry of Petroleum, the price of petrol has been reduced by Rs 6 per litre, while the price of high-speed diesel, which is considered very important for public and freight transport, has been cut by Rs 6.80 per litre. The notification clarified that these new prices will be implemented formally from 12 midnight tonight, after which the new prices will be effective at all pumps across the country.
It should be remembered that this series of public relief by the government started last week, when last Friday the government reduced the prices of petrol and diesel by Rs 5 per litre. With this reduction in two consecutive weeks, petrol has become cheaper by Rs 11 and diesel by Rs 11.80. According to The Nation, such measures not only give the middle class a chance to breathe but also create hope for stabilisation in the prices of food items. Economic experts say that this decision of the government will also be helpful in reducing the country’s production costs.