PM Shehbaz slashes petroleum levy by Rs80, reduces petrol price to Rs378 per litre

Islamabad (Web Desk): In a move aimed at providing relief to the public amid the ongoing crisis in the Middle East, Prime Minister Shehbaz Sharif on Friday announced a reduction in the petrol price to Rs378 per litre for one month after slashing the petroleum levy by Rs80 per litre.

The new price comes into effect from 12am on Saturday (today).

The announcement was made a day after the government increased petrol prices by Rs137.23 per litre, while high-speed diesel (HSD) was raised by Rs184.49 per litre.

Addressing the nation, PM Shehbaz said that he was speaking at a difficult time as the region faces instability due to the ongoing conflict in the Middle East. He noted that rising global oil prices have created significant challenges for ordinary citizens.

“Oil prices have increased significantly in global markets. Inflation has broken the backs of the world’s powerful economies,” the premier said.

PM Shehbaz expressed the hope that the conflict would end soon and peace would be restored in the the region.