Finance Minister Ishaq Dar announced on Saturday that the price of petrol and diesel have been decreased by Rs9 and Rs7 per lite, respectively in the fortnightly review.
In a televised address on Saturday, the finance minister said one petroleum product had witnessed increase while the price of another went down in the international market during the last 15 days.
Following the reduction, the petrol will be available at Rs253 per litre while the price of HSD will be Rs253.50 per litre.
Dar said no changes had been made to the petroleum development levy (PDL) which was increased to Rs55 per lite on the demand of International Monetary Fund (IMF).
The new prices will be effective from July 16 (Sunday).
