The Government of Pakistan cut Petrol Price Pakistan by Rs4 per litre for the fifth consecutive time, fixing the new rate at Rs373.78 from June 13.
The official notification also reduced the price of high-speed diesel by Rs2 per litre. The new diesel rate was fixed at Rs 378.78 per litre.
The revised petroleum prices will take effect from June 13, according to the notification.
The latest reduction followed market expectations of a larger cut in the fortnightly review. Earlier reports had suggested petrol could fall by up to Rs10 per litre and diesel by up to Rs30 per litre, depending on global oil prices and import costs.
Read: Petrol Pump Owners Demand Monthly Fuel Price Review
Officials had said the Prime Minister would approve the revision before the Petroleum Division issued the formal notification.
Petrol pump owners have also urged the federal government to replace frequent fuel price revisions with a monthly review system. Their association said repeated changes create financial and administrative problems for fuel retailers.
The association said monthly pricing would offer more stability for dealers and consumers. It warned that petrol pump owners could launch a nationwide protest if the government does not review the current pricing mechanism.
