ISLAMABAD – The interim government reduced the petroleum prices on Saturday after two times increment in last month.

The new price of petrol will be Rs95.24 per liter, light diesel Rs75.37 per liter and carnosine oil Rs83.96 per liter. High-speed diesel will be available at Rs112.94 per liter.

The petroleum minister expressed that the reduced price of petroleum products will boost the country’s economy.

According to a statement issued by the press information department, the minister said that the federal cabinet has decided that sales tax rates would be reduced from 17% to 12% for Motor spirit and Kerosene Oil, from 31% to 24% on High-Speed Diesel and from 17% to 9% on Light Diesel Oil.

The reduction in prices of petroleum products will be effective from 12:00 midnight, the minister concluded