The government announced a reduction of Rs22 per litre in the prices of petrol and high-speed diesel (HSD) each on Friday.

Last week, the government cut the prices of petrol and diesel by Rs6-7 per litre each with immediate effect for the week ending May 29 owing to lower global prices.

Following the last reduction, the price of HSD stood at Rs402.78 per litre and that of petrol at Rs403.78 per litre. Another reduction of Rs22 in the price of each commodity means that the new price of HSD has been set at around R380 per litre and of petrol at around Rs381 per litre.

The latest reduction in the prices was announced in a statement issued by the Prime Minister’s Office (PMO), which said PM Shehbaz had promised to pass on “the relief to the people as soon as some space was created for it”.

“That promise has been fulfilled,” it added. “It has been decided to reduce the price of petrol by Rs22 per litre and also cut the price of diesel by Rs22 per litre.”

More to follow