The Ministry of finance cut the price of petrol by Rs4.74, hours after reports of Prime Minister Shehbaz’s orders for ‘massive’ decrease in prices of petrol and diesel.

The price of petrol is now set at Rs268.36.

The price of diesel was cut by Rs3.86 to Rs270.22.

According to sources, PM Shehbaz had ordered reduction of Rs15.40 Pakistani rupees per liter for petrol and Rs7.90 rupees per liter for diesel.

However, no notification was issued by midnight. Sources indicated that there was confusion within the ministry of finance after the PM office ‘prematurely’ announced a price decrease.

The late notification notified significantly smaller decreases in prices compared to earlier reports.

The PM had attributed the reduction to the people-friendly policies of the current government, claiming they have resulted in a noticeable decrease in inflation and brought about economic stability in the country.

Petrol prices in Pakistan expected to fall after decrease in global market

The Ministry of Finance is expected to issue a notification detailing the new prices for petroleum products for the next 15 days.

It is worth noting that on May 16, the government also reduced petrol prices by over 15 rupees.