For the second time in a month, the federal government has announced a reduction in the prices of petroleum products, effective from September 1. The price of petrol has been decreased by Rs. 1.86 per liter, bringing it down to Rs. 259.1, while the price of high-speed diesel has been reduced by Rs. 3.32 per liter to Rs. 262.75.

This reduction is attributed to the ongoing decline in oil prices in the international market. Over the past fortnight, the import premium on petrol has decreased by approximately 50 cents per barrel to $8.50, while the premium on high-speed diesel has remained steady at $5 per barrel. The Pakistani Rupee has maintained its value at 278 against the US dollar.

It is noteworthy that during the last fortnightly review, the government had already reduced the price of petrol by Rs. 8.47 per liter and high-speed diesel by Rs. 6.7 per liter.