Petrol price cut by Rs 9.41, diesel by Rs 5.56 per litre

Summary: The government has announced a reduction in the price of petrol by Rs 9.41 per litre and diesel by Rs 5.56 per litre for November 6. According to the new prices, petrol will be available at Rs 352.59 per litre and diesel at Rs 382.25 per litre.

Karachi: The government has announced a further reduction in the prices of petroleum products. According to the notification issued for November 6, the price of petrol has been reduced by Rs 9.41 per litre, while the price of high-speed diesel has been reduced by Rs 5.56 per litre.

After the latest price reduction, the new price of petrol has been fixed at Rs 352.59 per litre, while diesel will now be available at Rs 382.25 per liter.

Earlier on November 5, petrol was being sold at Rs 362 and diesel at Rs 387.81 per litre. Thus, under the new prices, both the major fuels have become cheaper.
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The reduction in petrol price is expected to provide direct relief to consumers using motorcycles and private vehicles. On the other hand, the reduction in diesel prices may also have a positive impact on the costs of transport, freight and the agricultural sector; however, its practical benefit will be subject to a reduction in other costs and fares.

With the government adopting a daily review of petroleum product prices, consumers can see the impact of changes in the global market in local prices relatively quickly. However, under the current notification, the new prices will be effective only for November 6, so there is a possibility of further changes in rates in the coming days.