In a significant move aimed at providing relief to the public, Prime Minister Shehbaz Sharif on Friday directed the Ministry of Finance to reduce the price of petrol by Rs15.4 and high-speed diesel (HSD) by Rs7.9 per litre.

According to the Prime Minister’s Office (PMO), the prime minister emphasised that this decision aligns with the government’s pro-people policies.

He stated that these policies have resulted in a noticeable reduction in inflation and have contributed to economic stability. An official notification in this regard will be announced by the finance ministry soon.

The new prices will be applicable from midnight and remain valid for the next fortnight.

Read more: Fuel prices likely to be slashed on May 1

This move is expected to bring significant relief to the public, who have been grappling with high fuel prices in recent months.

On May 15, the government had announced a welcome reduction in petrol and HSD prices for a fortnight by Rs15.39 per litre and Rs7.88 per litre, respectively.

Petrol is used in motorbikes and cars and is considered an alternative to compressed natural gas (CNG), especially in the Punjab province.

HSD is widely used in the transport and agriculture sectors; therefore, a reduction in its price is poised to have a significant impact on lowering inflation countrywide.