Islamabad: (RightNow). The government announces a reduction in petrol and high-speed diesel prices. Petrol price decreases by 12 paisa per liter, setting the new price at 336 rupees and 3 paisa per liter. High-speed diesel price drops by 66 paisa per liter, now priced at 392 rupees and 38 paisa per liter.

According to the Petroleum Division, the new prices will be effective from midnight and remain until August 3. This move is expected to provide some relief to the public.

Experts state that petroleum product prices are determined by international oil prices, rupee value, and import costs. The government’s decision aims to offer relief from inflation.

It is clear that rising crude oil prices in the global market lead to local price increases, affecting the public.

Remember, fluctuations in prices occur due to petroleum levy, customs duty, and other taxes, which the government considers when setting prices.