LAHORE: Barely a day after Prime Minister Nawaz Sharif announced a reduction in petroleum prices by Rs9.43 per litre, several petrol stations in Punjab observed a shutdown for varying reasons.

As the notification pertaining to the new rate came into effect after midnight, many station owners were unable to source petrol. Alternatively some stations were closed because the owners had purchased petrol at a higher rate than the one that has come into effect.

On Friday, the premier had announced that petrol prices would be reduced by Rs9.43 per litre in order to provide relief to the public.

The announcement had been made by the prime minister while addressing a special meeting of the federal cabinet in Islamabad.

He said the government was drastically reducing petroleum prices despite the fact that sit-ins and protests caused huge losses to the national economy.

Take a look: PM Nawaz announces reduction in petrol price by Rs9.43 per litre

Meanwhile, the administration in Lahore has also sealed four petrol stations, belonging to different owners, who are accused of looting the public, and not selling petrol at the prescribed rate.