The federal government has announced a minor reduction in petrol prices, but citizens are calling it a disappointment amid a sharp drop in global oil rates. A formal notification regarding the change has been issued.

According to the notification issued by the Ministry of Finance, petrol prices have been slashed by only Rs1 per litre, bringing the new rate to Rs254.63 per litre. The price adjustment has take effect from midnight (Friday-Saturday). Meanwhile, the price of high-speed diesel has been kept unchanged at Rs258.64 per litre.

The government’s move comes despite a significant decrease in international petroleum prices, with critics pointing out that the relief passed on to the public is negligible. Prices of other petroleum products also remain the same.

It is worth noting that on March 15, the government had raised the petroleum levy from Rs60 to Rs70 per litre while keeping fuel prices unchanged.